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COPX Copper Miners ETF Big Base = Big Move

Commodities / Copper Dec 28, 2017 - 03:44 PM GMT

By: Rambus_Chartology

Commodities

COPX Copper miners etf, has finally made it back up to the top rail of an expanding flat top triangle which is consolidating the June rally. The 20 day ema has just crossed back above the 50 day ema which is giving us a buy signal.


The weekly chart shows the expanding flat top triangle is forming just below a thee plus year double H&S bottom.

Below is the monthly chart for perspective. For those that want to start a position or want to add to your initial position can wait for the breakout which will take out two important trendlines at the same time. COPX has been somewhat weaker than the other stocks in this category that have already broken out above their neckline so it may play catchup for awhile. Keep in mind this is a large base and should produce a big move when all is said and done.

All the best

Gary (for Rambus Chartology)

http://rambus1.com

FREE TRIAL - http://rambus1.com/?page_id=10

© 2017 Copyright Rambus- All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

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