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Copper

XCUUSD - 240 MINS CHARTThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart). Note: its my view only and its for educational purpose only. only who has got knowledge in this strategy will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves. we do not get into bullish or bearish traps. we anticipate and get into only big bullish or bearish moves (Impulsive moves). Just ride the bullish or bearish impulsive move. Learn & Know the Complete Market Cycle. buy low and sell high concept. buy at cheaper price and sell at expensive price. Keep it simple, keep it Unique. please keep your comments useful & respectful. Thanks for your support....
XShort
by Tradelikemee
Copper analysis: Has the bear market rally ended already?After a 37% decline from its peak of $5.03 per pound in early-March 2022, copper has risen 14% since July's lows. However, the metal has recently been unable to overcome key resistance levels represented by the 50-day moving average and the descending channel trendline, as fresh worries about global growth slowdown and monetary policy tightening reemerged this week. Key macro events of the week: China, the world's largest consumer of copper, unexpectedly lowered lending rates in an effort to boost demand after reporting weaker-than-anticipated July numbers for industrial production (3.8% vs 4.6% expected), fixed asset investments (5.7% vs 6.2%), and retail sales (2.7% vs 5%). In the United States, the New York Empire State Manufacturing Index plunged to -31.3 in August of 2022, from 11.2 in July. This is the lowest reading since May of 2020, and it indicates that business activity is weakening as a result of a collapse in new orders and shipments. Germany's ZEW economic sentiment index has fallen to its lowest level since October 2008, and the UK inflation rate has risen to double digits, the highest in 40 years, adding fuel to the fire and reigniting fears of a global recession. Ultimately, the Minutes of the FOMC's July meeting revealed that there is still a long way to go before declaring the war on inflation won, with members indicating that adopting a more restrictive policy stance was critical to avoiding a worsening of inflation expectations. This implies that the Fed's tightening is far from over. Copper technical analysis A bear market rally that is nearing exhaustion can be seen on the copper daily chart. The price action this week has been unable to break above both the bearish channel and the 50-dma, the RSI has tilted to the downside, and the MACD is getting close to a bearish crossover. A similar pattern occurred earlier this year, in the first week of June. After a 14% rebound from May's lows, copper briefly surpassed the 50-day moving average before beginning a severe, steep decline that lasted until mid-July. The RSI and MACD indicators both showed similar patterns to what we are seeing now. Bottom line, a copper's short-term pullback to the bearish channel's midline in the $3.2-3.3 area seems more likely, given the current technical setup. Breaking decisively the 50-dma and bearish channel resistances would invalidate the thesis and raise the odds of a $4.00 per pound test. Idea written by Piero Cingari, forex and commodity analyst at Capital.com
CAPITALCOM:COPPER
by Capitalcom
Copper Futures (M6E1!), H4 Potential for Bearish DropType : Bearish Drop Resistance : 3.6500 Pivot: 3.5315 Support : 3.4115 Preferred Case: On the H4, with the price breaking the ascending trendline and ichimoku cloud, we have a bearish bias that the price may drop from the pivot at 3.5315, which is in line with the 78.6% fibonacci projection and 61.8% fibonacci retracement to the 1st support at 3.4115, where the 50% fibonacci retracement and swing low are. Alternative scenario: Alternatively, the price could rise to the 1st resistance at 3.6500, where the pullback resistance is. Fundamentals: The copper price fell as the market worries about demand in China surfaced due to weak economic data and a firmer dollar. Meanwhile, Chinese property developers sharply cut investment in July, while new construction starts suffered their biggest fall in nearly a decade.
COMEX:HG1!Short
by Genesiv
Copper Daily : Elliott wave analysis, potential target rangeIf copper price action respects my Elliott wave count in daily timeframe, expect the 5th wave to start sometime sooner. Please refer to my previous analysis of copper in 60 min time frame. Looking at Elliott wave counts, wave#3 was greater than wave#1, so I am expecting wave#5 to be at least equal to wave#1 (see the vertical yellow bars), based on this assumption the target range for wave#5 is : 2.96 to 3.02 I am using two technical indicators 1) Monthly and Weekly Pivot Points and 2) Fib extension, on top of Elliott wave counts to decide when to get in a short trade and when to get out.
FX:COPPERShort
by spranav
How To Go Short Copper (HG)Hi Traders, This post takes a look at how we can go short on copper. There is a very simple setup to take if price does what I expect it to do. On the daily time frame, Price has managed to give a deeper rejection than I had anticipated in my last copper post, You will see that we are currently rejecting a resistance level on the daily, If you wanted to, you could add fib tool in order to add more confluence. We also have confirmed lower lows and lower highs and I would like to see the current structure price shorting opportunities to go with the overall trend. On my trading time frame, Price is now facing a minor support level at 3.3800 which could give a short-lived rejection. I would then like to see the break below the level and retest so we can start looking for shorts. Because I am anticipation a new low on the commodity I will be holding my position all the way to 1.3100. The basic break and retest setup is what I will be waiting for on this one. Looking at the flip side, the current near-term trend is still bullish and It could break the resistance shifting structure all the way bullish. Remember the smaller time frames eventually build into the higher timeframes. I will only be interested in buying above 3.4470. be sure to keep an eye out on this one. Untill the next post. Renaldo Philander.
CAPITALCOM:COPPERShort
by Tradebudz
Copper to $10+ by 2024. Easy. ~$4.50 today is fundamentally not the same as ~$4.50 in 2011 - the last time copper traded at these prices. QE was fresh off the block in 2011. today, it is standard operating procedure and although the fed talks a good game with tapering, we have yet to see any balance sheet reduction. Looking at this monthly chart, I noticed an interesting double bottom that hits its' target before entering price discovery between 1999-2006. the pattern is not perfect but it looks really similar to copper 2016-2022. Double bottom, target reached around $4.30, and now we're off to the races - price discovery. I think copper to $10 in under 2 years is a very safe bet. It doesn't threaten fiat as much as gold/silver and is manipulated less as a result. It is critical in many industries and the push for everything to go IoT will continue the increasing pressure on copper as well. Let's see how this one ages.
COMEX:HG1!Long
by chickenboye