FxWirePro: Copper bulls in control, price hits 5-month highs at 3.283, bias higher

• Copper bulls remain in control, price hits 5-month highs at 3.283, bias higher.
   
• The pair is extending break at strong trendline resistance at 3.145.
   
• Price has edged above 200-DMA and daily cloud and we see scope for further upside.
   
• Indicators on daily charts are highly bullish, momentum is with the bulls. 
   
• We see weakness only on retrace below 200-DMA.

Support levels - 3.2536 (1H 21-EMA), 3.1956 (5-DMA), 3.1683 (1H 200-SMA)

Resistance levels - 3.289 (Jan 15 high), 3.30, 3.320 (Dec 28 2016 high)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-Copper-breaks-strong-trendline-resistance-hits-3-month-highs-at-3248-good-to-go-long-on-dips-1353202) is approaching final targets.

Recommendation: Book partial profits at highs, trail SL to 3.25, hold for 3.30/ 3.320

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