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Copper

Key Levels and US Market Review for the Asian session open 24/04Major Indexes edged higher Friday into the weekend with both Europe and the US posting minor gains. The US had economic data out that came in stronger than expected and sent US Bond Yields higher to add further fuel to the interest rate rise narrative. Share market traders have been in a holding pattern awaiting a big week of earnings this week in the US as some big tech names will release results and guidance. Expect that the tug of war between good and bad economic and earnings data will continue to see tough markets this week. Longer term, I still feel that share markets are looking heavy and expect to see some risk off moves or at least the market to cap bullish moves. I either expect sticky inflation or expectations for a recession to weigh on markets. I remain of the view that sticky inflation is the big issue but it remains a balancing act for the Fed. Traders are continuing to anticipate the end to the rate rising cycle and may be wrong again. If the Fed stops too soon, then shares will rally and put pressure back on inflation. Some KEY ACTIONABLE LEVELS into the Asian market session. Review of the European and US sessions and what that will mean to the price action in the near term along with key levels to watch. Markets covered :- DOW Nasdaq DAX FTSE ASX200 Hang Seng USD Index Gold Oil Copper
NYMEX:CL1!
by TradeTheStructure
Key Levels and US Market Review for the Asian session open 20/04Major Indexes were generally flat to lower both in Europe and the US as traders digest the UK CPI print and what may be in store for US inflation. The UK saw core CPI out at 6.2% vs 6.0% expected which is unchanged from the previous release. The BOE will not be happy with the figure as inflation remains high and they will need to raise rates further. This sets up for an interesting US FOMC in a few weeks as US CPI shows sticky inflation. Longer term, I still feel that share markets are looking heavy and we may see some risk off moves which will pressure major indexes lower in the near term. I remain of the view that sticky inflation is the big issue but it remains a balancing act for the Fed. Traders are continuing to anticipate the end to the rate rising cycle and may be wrong again. If the Fed stops too soon, then shares will rally and put pressure back on inflation. Some KEY ACTIONABLE LEVELS into the Asian market session. Review of the European and US sessions and what that will mean to the price action in the near term along with key levels to watch. Markets covered :- DOW Nasdaq DAX FTSE ASX200 Hang Seng USD Index Gold Oil Copper
NYMEX:CL1!
by TradeTheStructure
copper longBuy: 4.730 or lower Stop: 4.550 Notes: maybe copper will catch up to other metals The model: The Ingenuity Trading Model is a Geometric Markov Model with specific inputs related to Price, Time, Volume , and Volatility. The model attempts to predict local minimums and maximums in price on a daily and weekly basis. A fancy way of saying a trading system that detects specific patterns in price, time, volume, and volatility and indicates whether to buy or sell. On winning trades after 1 day take at least ⅓ of the position off and move stop to breakeven
COMEX:HG1!Long
by IngenuityTrading
Key Levels and US Market Review for the Asian session open 18/04Major Indexes were relatively flat overnight as traders digest US earnings and the continued rally into Bond yields. Inflation remains the main focus along with Company Guidance over the coming weeks. The USD continued the move up which pressured commodities and USD denominated currencies. For now, traders are happy to remain risk on into shares although they are unwilling to add further risk into portfolios which to me suggests a swing lower....especially if yields continue higher. I remain of the view that sticky inflation is the big issue but it remains a balancing act for the Fed. Traders are continuing to anticipate the end to the rate rising cycle and may be wrong again. If the Fed stops too soon, then shares will rally and put pressure back on inflation. Some KEY ACTIONABLE LEVELS into the Asian market session. Review of the European and US sessions and what that will mean to the price action in the near term along with key levels to watch. Markets covered :- DOW Nasdaq DAX FTSE ASX200 Hang Seng USD Index Gold Oil Copper
NYMEX:CL1!
by TradeTheStructure
Key Levels and US Market Review for the Asian session open 6/04Major Indexes were either range bound or weakened in Europe and the US. The DAX drifted lower from the open and the FTSE gave up most of the earlier gains into the close while the DOW ended slightly higher and the Nasdaq added to the previous sessions losses to end lower. Traders will be risk adverse coming into Easter and add to that the US employment data which could easily trigger increased volatility in a relatively thin market. I expect the Asian session to be range bound or a grind lower today. I remain of the view that sticky inflation is the big issue but it remains a balancing act for the Fed as they potentially come to the end of a rate rise cycle. With the OPEC Production cuts and resultant spike in Oil ( and clear potential for higher levels), bulls will have something to think about regarding inflation. Some KEY ACTIONABLE LEVELS into the Asian market session. Review of the European and US sessions and what that will mean to the price action in the near term along with key levels to watch. Markets covered :- DOW Nasdaq DAX FTSE ASX200 Hang Seng USD Index Gold Oil Copper Trade what you see not what you think! RELATED IDEAS TradeTheStructure
NYMEX:CL1!
by TradeTheStructure
Key Levels and US Market Review for the Asian session open 5/04Major Indexes moved lower as banking concerns weighed on the US along with fears of an economic slowdown. Employment data out in the US disappointed and pointed to a slowing jobs market which sets up for an interesting Payrolls release Friday. The USD took a hit, which supported Gold, as traders start thinking of a recession. Being the end of quarter, we may see a decent unwind of recent buyers but I expect this will be closer to the employment data release. Either way, I feel that major Indexes are looking heavy and may need a flush lower at the least, prior to any further upside. The RBA statement was happy to leave interest rates on hold even with inflation around 6.8%. Homeowners (especially recent buyers) were relieved although many still expect further rises to tame the high inflation. The ASX is expected to open relatively flat around the previous close while the Nikkei is set to open down 164 pts while the Hang Seng is closed for trading. I remain of the view that sticky inflation is the big issue but it remains a balancing act for the Fed as they potentially come to the end of a rate rise cycle. With the OPEC Production cuts and resultant spike in Oil ( and clear potential for higher levels), bulls will have something to think about regarding inflation. Some KEY ACTIONABLE LEVELS into the Asian market session. Review of the European and US sessions and what that will mean to the price action in the near term along with key levels to watch. Setups I expect to see play out on the major markets below :- Markets covered :- DOW Nasdaq DAX FTSE ASX200 Hang Seng USD Index Gold Oil Copper
NYMEX:CL1!
by TradeTheStructure
Key Levels and US Market Review for the Asian session open 4/04Major Indexes were mixed to start the new week in Europe and the US. The DAX was down while the UK100 was higher while over in the US the DOW was buoyed by a strong energy sector and the Nasdaq ended lower. We may see the markets drift in the coming sessions as they await the key US employment release and further direction for inflation and interest rates. The USD rallied from the start of the Asian session only to take a hit from the European open and give back all the gains plus more which triggered buying into gold. US bond yields eased as Manufacturing data came in slightly weaker than expected. The local Aussie market will be eagerly awaiting the RBA statement today at 2:30pm Syd time. RBA is expected to leave rates on hold. Asian markets are expected t open flat after a relatively range bound overnight session. I remain of the view that sticky inflation is the big issue but it remains a balancing act for the Fed as they potentially come to the end of a rate rise cycle. With the OPEC Production cuts and resultant spike in Oil, bulls will have something to think about regarding inflation. Some KEY ACTIONABLE LEVELS into the Asian market session. Review of the European and US sessions and what that will mean to the price action in the near term along with key levels to watch. Setups I expect to see play out on the major markets below :- Markets covered :- DOW Nasdaq DAX FTSE ASX200 Hang Seng USD Index Gold Oil Copper
NYMEX:CL1!
by TradeTheStructure
CPER see brrrrLooking at the weekly chart with 200MA for CPER. I'm a fan of owning physical metals but CPER is a nice way for people to dabble in copper without actually getting bullion. The 200MA is now coinciding with the lower boll band. On a weekly chart I'd expect this to serve as rock solid support. I've mapped out the trajectory of the 200MA if it continues to uptrend like it has, and its represented as the bottom line of the white parallel channel. Price action around the green rectangle should present a great entrance opportunity, with a target to exit at the top of the parallel channel. Fundamentally I'm quite bullish on copper. It drives the green energy revolution and inventories are tapped out worldwide. Disputes between miners and governments are taking place and those never end quickly. Good luck out there, NFA.
AMEX:CPER
by ChartswithChip
Key Levels and US Market Review for the Asian session open 30/03European markets rallied from the open which led to a strong open to the USD and a very bullish session. All indexes were up as stock traders went bargain hunting as they brush aside banking woes. For me inflation still needs to cool a lot further before bulls can take control and US consumers are not in a good way which may eventually weigh on markets again. Bond yields are also hinting at inflation concerns as they go higher while the USD is showing signs of basing for a leg up. The US was generally supported by a handful of big Tech stocks and banking shares. Asian markets are expected to open higher with the ASX set to open up 45pts. It will be interesting to see if the HSI has another squeeze lower or fires up the rockets again for a big move up. I remain of the view that sticky inflation is the big issue but it remains a balancing act for the Fed as they potentially come to the end of a rate rise cycle. The Fed will need to see hard evidence that inflation is coming under control first. A review of the price action from the European session and the US session where I look at some key levels to watch and the price action setups I expect to see play out on the major markets below. Markets covered :- DOW Nasdaq DAX FTSE ASX200 Hang Seng USD Index Gold Oil Copper
NYMEX:CL1!
by TradeTheStructure
Key Levels and US Market Review for the Asian session open 29/03European markets gapped up and then saw a slow grind lower while the US could not take out the previous sessions highs and also moved lower into the close. The US was weighed down by big tech as inflation and rate rises are again the main focus. US Bond yields continued to press higher which weighed on tech stocks and the overall broader market. Elevated Consumer Confidence levels gave the market some confidence as the banking crisis starts to fade to the background for now. Asian markets are expected to open mixed with the ASX200 set to open down 25 points, the Nikkei set to open flat and the Hang Seng to open up over 300 points after a strong overnight session. I remain of the view that sticky inflation is the big issue but it remains a balancing act for the Fed as they potentially come to the end of a rate rise cycle. The Fed will need to see hard evidence that inflation is coming under control first. A review of the price action from the European session and the US session where I look at some key levels to watch and the price action setups I expect to see play out on the major markets below. Markets covered :- DOW Nasdaq DAX FTSE ASX200 Hang Seng USD Index Gold Oil Copper
NYMEX:CL1!
by TradeTheStructure
Key Levels and US Market Review for the Asian session open 28/03European markets bounced back to finish higher and provide a stronger start to the US session. The US was mixed with the DOW higher while Tech was lower as traders now re-focus on inflation and higher interest rates. This can be seen through support into the USD and higher US Bond yields. As the banking crisis takes a backseat in the news, I expect traders will again be dealing with the prospects of further rate rises and may punish risk assets. Asian markets are expected to open slightly stronger with the ASX200 and Nikkei to open up while the Hang Seng may open flat and find further selling pressure after yesterdays choppy trading day. I remain of the view that sticky inflation is the big issue but it remains a balancing act for the Fed with the lingering concerns for the banking sector. A review of the price action from the European session and the US session where I look at some key levels to watch and the price action setups I expect to see play out on the major markets below. Markets covered :- DOW Nasdaq DAX FTSE ASX200 Hang Seng USD Index Gold Oil Copper
NYMEX:CL1!
by TradeTheStructure
Key Levels and US Market Review for the Asian session open 27/03European markets were sold lower again on the back of banking fears and look ready to be pressured again at the start of the new week. The US opened weaker to follow on from Europe but found an intraday low and rallied into the close to brush aside the earlier weakness. The USD is back moving higher after breaking the recent downtrend leaving Gold to find some selling pressure and move lower. Copper is finding buyers while Oil fended off more selling pressure and is looking for a move higher. I remain of the view that sticky inflation is the big issue but it is now a balancing act for the Fed with the concerns for the Regional US Banks leading many to expect an interest rate pause. A review of the price action from the European session and the US session where I look at some key levels to watch and the price action setups I expect to see play out on the major markets below. Markets covered :- DOW Nasdaq DAX FTSE ASX200 Hang Seng USD Index Gold Oil Copper
NYMEX:CL1!
by TradeTheStructure
Key Levels and US Market Review for the Asian session open 10/03A review of the price action from the European session and the US session. Major indexes again took a big hit lower in a risk off move ahead of the Key US data release on employment. Investors feel it is hard to take up the slack of higher prices when labour market is at capacity and the consumer becomes more reluctant to spend. Inflation and rate rise expectations kept the major indexes under pressure. The USD edged lower while US short term bond prices moved higher. I remain of the view that sticky inflation is the big issue and will weigh on share markets if the Fed, and other major central banks, can not get it under control....this all points to more 'risk off' into major share markets. I look at some key levels to watch and the price action setups I expect to see play out on the major markets below. Markets covered :- DOW Nasdaq DAX FTSE ASX200 Hang Seng USD Index Gold Oil Copper
NYMEX:CL1!
by TradeTheStructure