Gold and copper analysis leading into the US open

Gold and copper analysis leading into the US open

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Leading into the US open gold (4-hour chart) has been trading higher and currently sits at 0.53% in the black. There has been some resistance at the internal trendline but the next resistance at $1890 per ounce is the next key target on the upside. It has to be said that his move higher in the futures market has not been on massive volume but is still a decent bit of relief for the bulls after a few sessions of negative price action. For the upcoming session, the aforementioned resistance at $1898 is the key zone to keep an eye on. 

 The 4-hour copper futures chart is showing that there could be a bullish trendline break back inline with the current uptrend on the higher timeframes. If the price does happen to close above the trendline then the green resistance line at $3.0980 per pound could be the next tricky point for the bulls. Beyond that, the black high at $3.21 is the main target for the bulls. At the moment the price is close to the value area (price at which most contracts have been traded) and this can also be a tricky point to overcome. 

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