Copper is showing great pattern consolidation.
it appears to be putting in a daily bull flag pattern that looks poised to breakout.
If copper follows some of the other recent price action in the commodity space it makes it even more likely to surge.,
You're seeing #gold #uranium #oil and other all performing well.
Will this dampen and slow down the dis...
A handful of AI related Tech stocks supported the broader market in the US while the DOW continued to edge lower into a longer term support zone. US Debt ceiling talks took a step in the right direction albeit a very small one...I do not expect a deal until the last minute as US Politicians enjoy the limelight. The USD continued higher putting pressure on dollar...
Markets came under pressure again on concern of an economic slowdown. Europe was hit lower with the DAX and FTSE100 looking weak. US data out weighed on the US open to pressure key indexes lower although tech and the Nasdaq remain relatively strong. US data out was mixed with unemployment claims higher and PPI showing strength. The uncertainty sent USD higher and...
MID TERM LONG
The price of copper has made some headway after falling to its lowest level since November 2020 on 15 July 2022. The metal started 2023 at $3.84 and has risen 6.7% to trade at around $4.10 as of the time of writing on 14 April, although base metal prices have retreated significantly since the record highs seen in March last year.
Metals markets...
Yield Curve #YC Chart updated.
$USOIL $COPPER $SPX #10s02s
This looks like a top.
Last peak looks like 2016.
Our leaders didn't a down day on the $SPX.
Now cycles are getting shorter and shorter.
Last one: 1 year.
One day reality will kick in.
A brief commodities moment overview as OIL, XAGUSD, XAUUSD, COPPER ALL are reaching the key upside resistance levels. Price action today and the following days will be the key for the breakouts pullbacks.
I think we've reached a point where the huge spread between oil and copper will close, this type of scenario favors an $AUDCAD long position. The chart is constructive already, so, it could end up flashing a nice trend signal from here. I'll be looking to enter longs at market open, and exit once the spread is closed once more.
You could also trade the pair, long...
Comparing BHP billiton to Gold, Copper, and Oil - aka the "reflation" commodities. Note how there is a decent correlation that has completely diverged in the past few months. Billiton probably going to head downward
We have an interesting spread between copper and oil, with the ratio chart showing signs of outperformance in Copper, relative to Oil today. We might be at a local bottom for this ratio, which paves the way for AUDCAD longs, as well as trading Copper and Oil futures/CFDs as a pair, going long Copper, whilst simultaneously going short Oil.
This is a very...
GOLDMAN SACHS - COMMODITIES: WHAT'S DRIVING THE MARKET TODAY
The One-Liner
Commodities broadly higher with weaker USD. Copper trading higher after failing to break $4750 in recent days.
The Fundamental Highlights
Energy: Crude marginally higher with spreads and cracks largely unchanged. The Iranian Oil Minister has not yet decided whether he will...
Hi there!
Today I was thinking of the pair which reflects the strength of the Dollar and commodities (rising Oil drags Copper and others) and I came to EURAUD chart. (BTW EURCAD idea already paid well)
EURUSD is in downtrend still and DXY is going to reverse higher.
AUDUSD still up on rising Copper.
So even fundamentally the EURAUD is huge negative.
Look at the...
High Grade Copper Futures have just met with a long term uptrend spanning back to 2003. Copper is oversold and a bounce off of this trendline indicates large potential long term future growth. Entering the market around 2.40 with take profits at 3.00, 4.00 and 5.00. Please don't hesitate to leave your thoughts and comments. Good luck to all and happy trading.
