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Copper

COPPER (XCU/USD) – Week 42 – New top on the cards.In our last week’s analysis, we correctly anticipated the pair to continue the uptrend. For next week, we foresee the pair making a small pullback towards the support and break the top. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
OANDA:XCUUSDLong
by financialflagship
7
Copper - Just the BeginningCopper futures broke out of their wedge this week, with per tonne prices breaking the $10,000 milestone. Names such as Freeport-McMoran (FCX) are benefitting from this, while TRQ is on discount due to. setback in their mining process. Despite Fed tapering, copper is strong, surprisingly. I believe that now is the time to get in "The New Oil", as stated by Goldman Sachs, who gives the commodity a 50% upside before 2025. If copper moving 10% has resulted in Freeport going from $30 to $39, think of what will happen if Goldman and the rest of the Street is right... Thesis: Goldman Sachs recently published a note declaring copper "the new oil," and forecasting it could reach $15,000 (50% inc.) by 2025 as the world transitions to clean energy. As the movement to sustainability/clean energy progresses, the exponential increase in demand for copper will outrun supply due to slow mine creation, centralized property rights. Although it may take a few years and experience some drawdown, depleted inventories and a demand spike will likely cause the price to rise significantly over the next decade, with Bank of America suggesting a possible 100% increase to $20,000 per metric ton by 2025. Overall sentiment on the Street is extremely bullish in the mid-to-long-term.
COMEX:HG1!Long
by nickygin
Copper Triggers Flag Pattern, similar looking to Oil BreakoutCopper confirmed a daily breakout of a flag pattern. Great follow through today. Next resistance comes in at previous highs of 4.80, and then likely new highs after that. Potential retest of the trendline breakout is possible. Just normal breakout market structure. This chart interest me because it is very similar to Oil a few months back. And look what happened: Hoping for a similar move. Inflation trade? Metals are getting a bid, and let's not forget to give some love to Dr. Copper!
OANDA:XCUUSDLong
by Uncharted-FX
Copper Prices Take Aim for May 2021 High Post Triangle BreakoutCopper futures are aiming for the May high at 812.60 after prices confirmed a breakout above a Descending Triangle chart formation. The 200-day Simple Moving Average helped maintain the dominant uptrend as the red metal continues to consolidate since earlier this year. A drop back under the July high at 768.50 could undermine upside progress, reorienting copper back towards the SMA. Clearing the May high exposes the 78.6% Fibonacci extension at 851.8636 towards the 100% level at 900.60. COMEX:HG1!
MCX:COPPER1!
by QM_Dubrovsky
𝘾𝙤𝙥𝙥𝙚𝙧 𝙁𝙪𝙩𝙪𝙧𝙚𝙨 (𝙃𝙂1!) — 𝙀𝙒𝘼HG1!: 🕐 6h A big review of this asset is planned for the first half of next year, but decided to make a small update to the count, as the current sideways formation looks very much like a bullish contracting triangle that is about to be completed. On completion of the final wave E of (B) , there will be a good trading setup for a long position. The wave marking in the double circle parenthesis corresponds to the green marking in the circle on the chart.
COMEX:HG1!Long
by TradeWaves-EWA
2
Copper bit of a bear marketHello, I see copper is in a bear market and a leg down could happen. Not going to provide a full in depth analysis. Here is a quick overview of this industrial commodity. Here is the 30Y chart compared to gold you should notice a few things: Copper could drop to 3.5-3.85. 3.85 is an extension of 1, 3.5 or 1.618. Those extensions are really very common. Gold bear market extended to 1.618 (for now): Copper, assuming this is a bear market, is no stranger to 1.618: The price extends 1 to 2 all the time. Sometimes it does more than "correct" it makes a whole downtrend. But it rarely does so (ever) without big retracements first. The old saying goes "don't trade corrections". Here this is something that repeats itself often so... And in the short term there are nice enough trends. I think trade corrections, but only if you are skilled. Newbies that struggle in 3 year straight line trends... Well of course they best stay away. As long as you have strong hands but don't overstay either, it should work out in the long run. The inflation trade is sleeping. Ah lumber has dropped so much. Too many people noticed it so they cut half the planet's trees. It dropped so much. And it had gone up so much. So much actually, that gamblers got caught up in lumber ponzis. I don't see the US going hyperinflation or even 15% a year. But people could buy commodities. In the short - medium term. Better something that returns 0 rather than say a -8% return. Disclaimer: I am long Soybeans and short Copper. To look for in the following days (to my knowledge): - China plans to release the state supply - China plans to monitor (translation: manipulate) the market - The US plans to "monitor" their economy (FED easing) - China industry has shown signs of slowing down Remember China buys half of the world Copper production (I think). China had bad numbers in particular their industrial production dropped hard. And As George Soros said, Housing Sector aïe aïe aïe. Since they learned, to their surprise (somehow) they had a 1 child policy, well there is no need for houses now is there? China doesn't take migrants either. And the rural exodus has slowed down. Economy contracts, demand goes down. Whole world contracts. China and the EU follow Japan. The US follows the EU. No reason for copper to go up. Supply is big an growing. Demand has no reason to grow. Only reason for the price to go up is inflation. For now the USD goes up as silly as it seems. Boomers worldwide all want to be safe. Safe with the greatest ponzi scheme in history.
COMEX:HG1!Short
by MrRenev
6
✅COPPER BULLISH PENNAT|LONG🚀 ✅COPPER has retested an important price level And is now consolidating below it In a bullish pennant pattern I am bullish on the metal As the transition to the "Green" economy With EV's and Wind Turbines will require massive Amounts of this commodity, so I am waiting for a breakout And then will be expecting a bullish wave With the first target being the recent high But I am sure the price will go much higher still LONG🚀 ✅Like and subscribe to never miss a new idea!✅
COMEX:HG1!Long
by ProSignalsFx
10
COPPER (XCU/USD) – Week 40 – Strong bullish signs.In our last week’s analysis, we anticipated the pair to consolidate above the orange trendline and head towards the resistance area. Instead, the price corrected deeper than expected and at the end of the week it finally broke the trendline again, but this time looks like a more solid breakout. In the coming days, we foresee the pair to consolidate around this area and head towards the first resistance area. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
OANDA:XCUUSDLong
by financialflagship
7
COPPER (XCU/USD) – Week 39 – Waiting for a trendline breakout.In our last week’s analysis, we anticipated the pair to finish the correction and make an attempt to break the resistance level. Instead, the price pulled back deeper than expected and reverted. In the coming days, we foresee the pair consolidating above the orange trendline and head towards the resistance area. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
OANDA:XCUUSDLong
by financialflagship
14
FIRST QUANTUM MINERALS CORRECTION In very simple terms, I can see FQM stock price going to my second target levels around 61.8%, we could potentially see the stock price trade around CAD$16.32/share in the next few weeks. On the daily timeframe, price has been trading below the 100 SMA and we could see a continued bearish trend to complete the corrective phase. Please refer to initial correction forecast in link below. DISCLAIMER: This is just an idea and must not be taken as a trading or investment advice in anyway.
TSX:FMShort
by Timgucci
COPPER (XCU/USD) – Week 38 – Targeting the resistance.In our last week’s analysis, we anticipated the pair to make small higher-highs and reach the resistance area. Instead, the price pulled back deeper. In the coming days, we foresee the pair to finish this correction and make an attempt to break the resistance level. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
OANDA:XCUUSDLong
by financialflagship
6
COPX - Evergrande Fall-OutBearish sentiment building for copper and other metals/commodities from Evergrande debacle in China and copper prices were down sharply this past week. COPX weekly chart closed outside the longer-term (march 2020) regression channel for the 2nd time in the last few weeks also printing a bearish engulfing candle indicating potential for more near-term down. Initial downside target bottom of the current regression channel at the 1.618 fib. COPX is currently setting atop the mid-line of the nearer-term regression channel and has volume support in this area and may briefly bounce. Not financial advice.
AMEX:COPXShort
by Akksujean