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Copper (HG) Copper Chart Looking Explosive

Copper (HG) Copper Chart Looking Explosive

Paul Robinson, Strategist
USD Forecast
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Copper Futures Technical Highlights:

  • Copper futures (HG) descending wedge pattern building
  • A big breakout may be near; bullish and bearish scenarios outlined

Copper (HG) continues to build a descending wedge that could be on the verge of breaking. A breakout above the top-side trend-line of the pattern and beyond 4.4690 should have copper rolling higher. We may see it fail here and stay within the wedge for a bit longer. To turn the pattern bearish a decline below 3.9615 is needed.

For the full details, check out the video above.

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Copper Futures (HG) Daily Chart

Copper futures daily chart

Copper Futures (HG) Chart by TradingView

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---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.