Copper consolidating at channel’s support & Trade Setup
Sunday, February 16, 2014
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Copper continues to trade within the ascending correctional channel shown on graph, organizing the upside wave following the downside move from $3.7825 toward $2.9720.
According to price channels trading, reaching the support level opens way for the upside rebound over short-term basis eying mainly the channel’s resistance areas, which for copper resides at $3.402.
Copper has recorded higher lows since recording the trough at $2.9720 supporting the upside gain over short and medium term basis.
Therefore, I favor gains for copper in the coming period as far as the metal maintains stability above $3.220 areas.
My recommendation : Buy Above 3.220 Stop @3.170 , Targets @3.310 & @3.402
To check the full forex performance results for 2013 and join @Aymanfxsignals contact my Email here ( Aymanfxsignals@yahoo.com )
Ayman Khlifat on Twitter : @Aymankkhlifat
Copper continues to trade within the ascending correctional channel shown on graph, organizing the upside wave following the downside move from $3.7825 toward $2.9720.
According to price channels trading, reaching the support level opens way for the upside rebound over short-term basis eying mainly the channel’s resistance areas, which for copper resides at $3.402.
Copper has recorded higher lows since recording the trough at $2.9720 supporting the upside gain over short and medium term basis.
Therefore, I favor gains for copper in the coming period as far as the metal maintains stability above $3.220 areas.
My recommendation : Buy Above 3.220 Stop @3.170 , Targets @3.310 & @3.402
To check the full forex performance results for 2013 and join @Aymanfxsignals contact my Email here ( Aymanfxsignals@yahoo.com )
Ayman Khlifat on Twitter : @Aymankkhlifat
