$COPX - SAFE HAVEN -
Added 2024-09-16 11:18:20 +0000 UTCIt is Fed Pivot week so it seems only appropriate to share as many safe haven and defensive stocks with the group to be reminded of their set up.
$COPX has not performed as strong as Gold and Silver but the set up is still very much bullish
Price could not hold above the yellow line at $47 so pulled back in a controlled manner and the price is in between the 0.5 - 0.618 Fib levels but crucially holding above the bottom line of the ascending triangle, which it has held since the Covid Low in March 2020, testing nearly 5 times now.
A move higher now, above the 200 Day MA and back towards $47 and I believe Copper follows Silver higher
Gold leads
Silver is second in command
Then Copper.
1.3% dividend too.
