After retracing all and more of a huge weekly gain Copper is looking interesting from a longer term trade standpoint. Looking at the daily Copper is testing trend support and in a support zone which has found buyers in the past.
Zooming in on the 15min we can see the makings of a falling wedge that is just now breaking to the upside. A trade long at these levels with a stop below the support zone offers decent upside given the selloff is in part over exaggerated from the China tariff threats which, if anyone knows Trump’s negotiating style, is a bluff. China consumes roughly 40% of Copper for manufacturing so given the support zone and fears baked into the price, any rumors or news tariffs won’t materialize should aid in a quick short squeeze to the upside for the metal.