Commodities Weekly (27 Aug ’17)

High Grade Copper continues to strengthenTrading above $3 as investors maintain a Positive stance.

Rising Tension Indicator highlights further gains. Next resistance at the $3.1190 high of October 2014.

Potential for extension to the $3.2170, (50%) Fibonacci retracement of the 2011-2016 fall in the coming months.

An unexpected close below $2.8675 will prompt a Downgrade to Neutral.

 

 

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