Copper 4H Bullish Scenario – **
Copper is currently exhibiting a **classic Cup and Handle formation** on the 4H chart, signaling potential for a bullish continuation move.
#### 🔍 **Technical Breakdown:**
* **Cup Formation:** The rounded base stretching from mid-April to June formed a well-defined “cup” bottom. This signals long-term accumulation and shifting momentum to the upside.
* **Handle Formation:** The recent consolidation forming a slight dip to the right is acting as the handle. It's shallow and holding well above the mid-range, showing strength and limited selling pressure.
* **Breakout Zone:** Price is now pressing against a **key horizontal resistance around the 4.88 – 4.90** zone (shaded red). A break above this neckline would confirm the pattern.
* **Target Projection:**
Using the depth of the cup (\~\$0.45), a confirmed breakout above **\$4.90** targets the **\$5.35** zone (aligned with the green take-profit zone on your chart).
* **Volume:** Volume shows steady accumulation during the cup phase and lighter volume during the handle – a textbook setup that often precedes a breakout.
* **Moving Averages:** Price is trading above the 20 EMA and 50 EMA, with a bullish crossover in place, reinforcing the positive momentum.
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### ✅ **Bullish Play Setup (if breakout confirms):**
* **Entry:** Above \$4.90
* **Stop-loss:** Below \$4.75 (handle low or below shaded support)
* **Target:** \$5.30 – \$5.35 (measured move)
### ⚠️ **Watch For:**
* False breakouts – wait for strong candle close above \$4.90 with volume.
* Any sudden macroeconomic shocks (e.g., China demand, Fed decisions).
✅ Bullish Play Setup (if breakout confirms):
Entry: Above $4.90
Stop-loss: Below $4.75 (handle low or below shaded support)
Target: $5.30 – $5.35 (measured move)
⚠️ Watch For:
False breakouts – wait for strong candle close above $4.90 with volume.
Any sudden macroeconomic shocks (e.g., China demand, Fed decisions).
Copper is currently exhibiting a **classic Cup and Handle formation** on the 4H chart, signaling potential for a bullish continuation move.
#### 🔍 **Technical Breakdown:**
* **Cup Formation:** The rounded base stretching from mid-April to June formed a well-defined “cup” bottom. This signals long-term accumulation and shifting momentum to the upside.
* **Handle Formation:** The recent consolidation forming a slight dip to the right is acting as the handle. It's shallow and holding well above the mid-range, showing strength and limited selling pressure.
* **Breakout Zone:** Price is now pressing against a **key horizontal resistance around the 4.88 – 4.90** zone (shaded red). A break above this neckline would confirm the pattern.
* **Target Projection:**
Using the depth of the cup (\~\$0.45), a confirmed breakout above **\$4.90** targets the **\$5.35** zone (aligned with the green take-profit zone on your chart).
* **Volume:** Volume shows steady accumulation during the cup phase and lighter volume during the handle – a textbook setup that often precedes a breakout.
* **Moving Averages:** Price is trading above the 20 EMA and 50 EMA, with a bullish crossover in place, reinforcing the positive momentum.
---
### ✅ **Bullish Play Setup (if breakout confirms):**
* **Entry:** Above \$4.90
* **Stop-loss:** Below \$4.75 (handle low or below shaded support)
* **Target:** \$5.30 – \$5.35 (measured move)
### ⚠️ **Watch For:**
* False breakouts – wait for strong candle close above \$4.90 with volume.
* Any sudden macroeconomic shocks (e.g., China demand, Fed decisions).
✅ Bullish Play Setup (if breakout confirms):
Entry: Above $4.90
Stop-loss: Below $4.75 (handle low or below shaded support)
Target: $5.30 – $5.35 (measured move)
⚠️ Watch For:
False breakouts – wait for strong candle close above $4.90 with volume.
Any sudden macroeconomic shocks (e.g., China demand, Fed decisions).
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Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.