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After posting a massive gain of 19.5% for the month of July, Global X Copper Miners ETF (COPX) continuing its impressive near-term upward movement, up 1.57% so far this week. Now the question is whether the rally has more legs? According to our “U.S. Market Trading Map”, there could be more gains ahead for the ETF. Below is an update look at a trade in SPHB.

The graphic below is from our “U.S. Market Trading Map”, show the near-term technical bias and trading ranges. As shown, the underlying is in a short-term bullish trend when the price bars are painted in green. The underlying is in a short-term bearish trend when the price bars are painted in red. The yellow bars identify period of neutral or sideways trading pattern. Additionally, the light-blue shading represents the short-term trading range. A move above or below that range is considered overbought (as represents by the red shading) or oversold (as represents by the dark-green shading). Readings above or below the red and green shaded areas are considered extremely overbought or extremely oversold.

Chart 1.2 – Global X Copper Miners ETF (weekly)

Our “U.S. Market Trading Map” painted COPX bars in bright green (strong buy). There is a distinct possibility that the ETF is building the right hand side of the bullish inverse Head-Shoulder pattern. The neckline…Click here to read more.

You see, our trend-following system is very unique as it attempts to pick turns before others see them. Timing is everything and if you’ve applied our system correctly, you should have made a killing in any markets.

 

This is just an example of many successful trades that our member had enjoyed recently. After all, aren’t you glad you subscribed?

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