As updated earlier in this blog, Copper was setting up for a bullish move. The move has picked up pace and looks set for further bullish gains ahead. See the chart below:
The chart still has some work to do with the 2011 highs as resistance. But see the ratio chart of Copper vs Gold below:
Copper relative to Gold has broken past two resistance lines and is now set for further gains. Let us track both these charts while maintaining a bullish stance in Copper.