TAURUS TRADING

Last week I wrote an article about Copper, which you can check out at Barchart.com. I was interested to see if Copper could break out above some overhead price and volume resistance. It did last Wednesday with a big upside move triggering a bullish ABCD pattern with targets at 4.6925, 4.798, and 4.888. This pattern fails below 4.3135. Now I would like to follow-up on that article because Copper has since sold off the last two days into possible support. First, let's talk a bit more about the bullish set-up. The ABCD pattern is bullish because its retracement is 50% or less. It also has positive momentum because the skewing is 7 bars down, 4 bars up. Normally, it's a good idea to look for pullback entries in these cases. My favorite support zones are based on volume profile, Fib clusters, 34 EMA waves, Fib symmetry, and support/resistance lines. For Copper, we have a volume profile zone (blue box on daily chart), a Fib cluster (green box on daily chart), Fib symmetry (4.416), and an..

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