Coppers and Robbers

Diupdate
The current copper setup is a steal.

Looking back we find copper price action is in a similar position to that of 2005. Overhead resistance above can give a rough estimate of a top should prices continue to break higher
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The weekly MACD is almost too perfect. Suspicious maybe. Nonetheless, support is $4.00 and only a sustained break below would arrest this trend.
Target above.
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The best play on Copper is SCCO - southern copper corp - nice dividend payer. For the last year SCCO looked like it could be forming a bull flag after tagging the 1.618 extension level
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The 2.618 level is still the target and judging by this breakout, Copper's probationary period might be over
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Catatan
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SCCOTrend Analysis

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