COPPER

During consolidation periods volatility decreases to extreme low levels. With the breakout from the consolidation range volatility follows its cycle and expands. During low volatility periods I try to look for clear chart patterns.

Here is another symmetrical triangle on Copper accompanied by low volatility reading on the Bollinger Band Width. Copper has been consolidating and contracting in a range for the past 2 months. We are likely to see a breakout from this symmetrical triangle. Though it is not clear which direction the breakout could take place, we will have an early warning signal once these two levels are breached. We are watching 355 as resistance and 325 as support.