The recent resumption of Copper’s rally has taken it above the neckline of a bullish reversal pattern on the weekly chart, says Andy Dodd, Head of Technical Research at Louis Capital Markets.
Dodd says the measured target for this pattern is 375 (see Chart).
His other weekly comments on futures markets include:
SXXP & SX5E: In short-term downtrends but at support
DAX: Downtrend intact but at key support
Dollar Index: Bullish candles at key support
EURUSD: Another bearish candle medium-term but uptrend intact short-term
GBPUSD: Testing short-term support
Crude: Limited upside whilst trend is intact
Gold: Potential breakout
Read the full report.