FxWirePro: Copper Forms Bullish Gartley Pattern, Good to Buy at Dips
2 June 2016, 15:02
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FxWirePro: Copper Forms Bullish Gartley Pattern, Good to Buy at Dips
- Harmonic Pattern- Bullish Gartley Pattern
- Potential Reversal Zone (PRZ) – 2.020
- Copper is expected to complete its Bullish Gartley pattern at 2.020 level. The commodity has declined till 2.037 and slightly jumped from that level. It is currently trading around 2.068.
- On the lower side major support is around 2.020 and any break below targets 2/1.950/1.930.The minor support is around 2.05/2.0350.
- The commodity is facing resistance at 2.1350 (55 day EMA) and any break above targets 2.180/2.200.
- Overall bearish invalidation only above 2.300.
It is good to buy at dips around 2.020 with SL around 1.980 for the TP of 2.1350/2.1800/2.200
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