A dazzling entry opportunity is currently available for copper. Still trading in the hustle and bustle of the 52-week low, there are two major long-term technical support measures that will allow a tight stop-off and keep the risk of loss in check.
From a medium-term perspective, the double low from the end of September 2018 and the beginning of January 2019 will cut by $ 5,810 / $ 5,820 per tonne. Not far below, at $ 5765, has been moving flat for months, the 200-week average, which has not been seen from below since the summer of 2017. Added to this is the fact that the long-term upward trend line established in 2016 has now reached the 5700 level. So stop-offs can easily be placed below them and would only trigger at a new 18-month low.
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