Jiangxi Copper (HKEX: 358) corrective range has been ongoing for 6 months since March 2021 and it has formed a corrective descending channel which resemble a large bullish flag. Technical has also shown prices is set to continue on the upside

1. The breaking out of the internal falling wedge indicate a confirmed bullish upside.
2. Diving into technical chart, V-shaped bottom reversal can be found and to addon, the resistance zone at HK$16.29-HK$17.05 has been tested multiple times and therefore weaken it in the process.
3. MACD indicator shows that both the signal line and the MACD line is attempting to cross above the zero line. Once it cross, further bullish upside confirmation will be sealed.

*Timeline of the trade is 15 weeks from the date issued.