COPX…Big Base = Big Move

Rambus
December 28, 2017

COPX Copper miners ETF, has finally made it back up to the top rail of an expanding flat top triangle which is consolidating the June rally. The 20-day ema has just crossed back above the 50-day ema which is giving us a buy signal.

The weekly chart shows the expanding flat top triangle is forming just below a thee plus year double H&S bottom.

Below is the monthly chart for perspective. For those that want to start a position or want to add to your initial position can wait for the breakout which will take out two important trendlines at the same time. COPX has been somewhat weaker than the other stocks in this category that have already broken out above their neckline so it may play catchup for a while. Keep in mind this is a large base and should produce a big move when all is said and done.

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Rambus Chartology is Primarily a Goldbug TA Site following the precious metals markets. Chartology is the Unique Blend of Technical Chart Pattern Identification and Market Psychology,  Developed by Rambus During the Tech Mania of the late 1990s.  His Early Training came the old fashioned way...Reading Edwards and McGee's Bible of Technical Analysis and spending years with a sharp pencil graph paper and ruler refining his skills and accuracy. Visit the Rambus Chartology website at http://rambus1.com/.

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