Copper is forming an Inverted Head and Shoulder, a trend reversal pattern, with neckline at about 2.13. Keep a close watch on the breakout with price target of 2.46 (the next Support turned Resistance).
Long term Copper has formed a Hammer on monthly candle at 2.00 support. Copper looks like have found a bottom.
Original post from https://mystocksinvesting.com
Copper ETF for long term investing are:
- JJC
- CPER
- CUPM
Note: Check the Bid Ask Spread before deciding which ETF to invest. The spread may be very wide for certain ETF due to low liquidity.
Note: Copper price is a leading indicator of manufacturing activity as this metal is widely used in electronics devices due to its conductivity of electricity. See Cooper applications here.
