FxWirePro: Copper holds 5-DMA support, bias higher

• Copper is extending gains after breach of major trendline resistance at 2.570.
   
• Technical indicators have turned bullish, raising scope for upside.
   
• MACD has shown a bullish crossover on signal line, momentum is bullish, ADX also has turned north.
   
• Copper has broken above 61.8% Fib of 0.752 to 2.450 fall at 2.637 and is on track to test 78.6% Fib at 2.687 and then 2.70 levels.
   
• Major support - 2.637 (61.8% Fib of 0.752 to 2.450 fall), 2.6122 (5-DMA), 2.565 (38.2% Fib of 0.752 to 2.450 fall)
   
• Major resistance - 2.687 (78.6% Fib), 2.70 (trendline), 2.718 (88.6% Fib)
   

Call update: Our previous call (http://www.econotimes.com/FxWirePro-Bullish-bias-builds-in-copper-after-break-above-20-DMA-good-to-go-long-on-dips-474277) has almost hit all targets.
​

Recommendation: Book partial profits at highs. Hold for upside.