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Copper Prices
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Posted 2/21/2021 21:23 (#8849980)
Subject: Copper Prices

Mascoutah, Illinois
My opinion based on technical analysis is copper is headed for $4.55-$4.64.

Copper topped out at $3.30 in December of 2017 and June of 2018.

It fell 38% (Fibonacci level) from $3.30 to an intraday low of $2.05 in March of 2020.

$3.30 times 1.382 (Fibonacci level) gets you to $4.56.

A breakout above the record high of $4.64 in June of 2011 leaves you with an upside target of $5.90-$6.00.

Side note: I would not be shocked to see crude above $100.00 a barrel in the next 12 months.
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