Last week, copper looked like it was breaking out a wedge consolidation but China clamping down erased the break.
Now it has taken a second run and broken the mid-March high.
At GMTT we went long Copper last Wednesday at 4.04 and our target of 4.23 is reached.
Very short term we get a next target of 4.29, while a good close above confirms a move towards 4.46.
We suggest raising the protective sell stop to 4.21.
On another note Gold (JUN) – long from 1726 – reached our target given of 1789 and its next upside target is 1806.
We raised this morning the protective sell stop to 1774 – but Gold only elects a sell signal below 1759.
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Copper Apr 19 2021