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Copper Long Idea
After Copper managed to rise to the 4.775 area in late october, the price has been range bound and in a slight downtrend. Price has been trading between 4.19 and 4.50 since this time, Copper is currently trading at 4.294 and appears to be moving to up to potentially retest the 4.42 area and beyond. The RSI indicators on the 4hr chart are around oversold terrorties at 37, but its the price action that has formed on the trend line that indicates to me other buyers are looking to go Long from this point. Since the 17th of Novemebr the price has been forming higher lows and respecting the upwards trend line. The stop loss area for this trade is at -2.45%, around the 4.195 area.
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