Copper (LME) looks to be completing a bull “flag” to suggest it is set for a fresh and potentially swing higher, which will be reinforced on a break above $6665, according to strategists at Credit Suisse. Key quotes “Copper is breaking out from a bullish ‘flag’ continuation pattern. Above the current cycle, high and long-term downtrend at $6633/65 is still probably needed to reinforce the break to add further upside momentum.” “Above $6725 in due course should then expose $7254/7348 – the high of 2018 and 50% retracement of the 2011/2016 collapse. Beyond here can see 61.8% Fibonacci retracement at $7947.” “Supports at $6226 needs to hold to maintain the ‘flag’.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD: FOMC Minutes To Provide Insights On Potential Policy Changes At September Meeting – BofA Kenny Fisher 2 years Copper (LME) looks to be completing a bull “flag” to suggest it is set for a fresh and potentially swing higher, which will be reinforced on a break above $6665, according to strategists at Credit Suisse. Key quotes “Copper is breaking out from a bullish ‘flag’ continuation pattern. Above the current cycle, high and long-term downtrend at $6633/65 is still probably needed to reinforce the break to add further upside momentum.” “Above $6725 in due course should then expose $7254/7348 - the high of 2018 and 50% retracement of the 2011/2016 collapse. Beyond here can see 61.8% Fibonacci retracement at… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
