HGZ11 – December Copper (Last:3.5490)

December Copper (HGZ11) price chart with targetsCopper’s two-week rise remains a case for the textbooks after this week’s pullback.  A rally up to 3.6420 would confirm the elegant daily pattern with a target well above the $4-per-pound level.  In evening trading, the futures have impulsed upward by about seven cents, lending credence to the tentative “C” point.  If the bullish tone persists, traders should watch for small patterns that enable a long-side trade with limited risk.  (Posted by Doug “harry” McLagan.)  Want to learn how to nail swing highs and lows precisely, and to manage trade risk with a simple approach? Click here for information about the upcoming Hidden Pivot Webinar on November 16-17.