Last week we saw copper rally to close above the price channel it has been in since mid-May of 2015. This past week it sustained its close above the channel. Is this a sign that copper's bottom is in?
If we zoom in to the daily chart, we see that since late July — so about a month and a half — copper has been in a trading range of sorts, which helped it break above the channel as time pushed the channel lower.
Is this signs of an accumulation pattern on copper? Could copper finally be bottoming and set to go higher?