Weekly Price Action Setups & Key Levels | Nov 20-25

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​My current active open positions: AUDUSD, AUDNZD

US Copper – Potential Accumulation Before 2nd Attack On Yearly Highs (4hr chart)
Starting the year around $200, copper has been one of the hottest commodities for 2016. The metal hit a yearly high earlier this month just north of $270.

What is interesting is the impulsive selling in the price action just 10 days ago, dropping almost 8% in less than a day. A lot of people have speculated this is the end of the bullish run in the metal. However the price action since then has been forming a ST base around 245/250, almost as if the buyers are accumulating before attacking the yearly highs again.

For now, I’m ST bullish …

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