Copper breaking up

Copper is breaking up through resistance, formed by the down trendline since April, signalling a reversal to the upside. My target for this move is 340. This is also another good sign for the stock markets.

China - Shanghai Composite Index

The Shanghai Composite Index today gave a buy signal as it broke above the down trend channel, with MACD positive divergence, as seen in the chart below. This is good news for the global stock markets. My initial target is 2 900, (a 15 % gain).