Copper XCU

CommodityCopper · XCU perp · MEXC

$6.503+1.15% 1D

Lines are each pattern's own boundaries (support, resistance or neckline; grey = the pattern's swings), drawn only on the timeframe where it formed.

Minimum target (book measuring rule)Magee stop

Candles: MEXC perpetual contract.

Prices are MEXC XCU perpetual-contract prices that track Copper; they are not official exchange quotes and can differ from them, especially outside the main trading hours. Weekend candles are left out. Not investment advice.

Chart patterns

Breakouts & breakdowns

3-month rising wedge · 6 testsBroke down 18d ago1D
Ch 10: two rising lines converging; it normally breaks down, at least two-thirds of the way to the apex. Confirmed by a close about 3% below the line ($6.9325). Minimum target: $5.988 (a minimum, not a limit). Magee stop (Ch 27): $7.2947, 5% beyond the last minor top.
6-week inverse head and shoulders · 2 testsBroke out · retested 79d ago1D
Ch 6: three declines with the middle one (the head) lowest; the neckline joins the two rally highs and may slope. Confirmed by a close about 3% above the neckline ($6.5563) on 1.7× normal volume. Price has since come back to the neckline: a pullback, which the book calls normal and frequent, not a failure. The book gives no measuring rule for this one. Magee stop (Ch 27): $5.9812, 5% beyond the last minor bottom.

Watchlist

2-month rectangle · 2 tests1.8% from breakdown1D
Ch 9: price trading between a level ceiling and a level floor. Not broken yet: a close below $6.296 by about 3% would confirm it. Minimum target: $5.72 (a minimum, not a limit).
4-week rectangle · 3 tests2.4% from breakdown4H
Ch 9: price trading between a level ceiling and a level floor. Not broken yet: a close below $6.352 by about 3% would confirm it. Minimum target: $5.8222 (a minimum, not a limit).