Copper Looks To Be Charting A Bullish Flag

The below is the daily chart of the copper price. Further to our previous article, the base metal looks to be charting a flag (green parallel lines). These patterns are usually of the continuation variety. Thus, if the pattern completes than the breakout should be to the upside. In this regard, we do note that the RSI(9) is looking to cross above the 50 level, which would indicate a shift in the underlying momentum towards the bullish side (blue rectangle). We continue to monitor.

chart

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