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Copper

Copper Prices giving a heads up... Earlier, I posted about the S&P500 defying gravity. Another indication to support that view is here... COPPER. It is well known for copper futures to lead/follow (takes turns) the equity markets. The reasons behind this phenomena is very fundamental, copper is used in production of many things, and in an economic upcycle, copper is one of the first metals required, in many forms from wires, to electronic parts. So, superimposed is the SPX on /HG copper futures. You can see the love/hate correlation. It is just astounding. Copper technicals are similar to that of 9 April 2020, as it bounces off the Gann fan support, breaks out over the trend line resistance... it appears bullish, even suggesting that it is looking for the last high. So what might this mean for the S&P500?
COMEX:HG1!Long
by Auguraltrader
COPPER (XCU/USD) – Week 29 – In the middle of a correction.Copper ranged the entire week, as the price refused to reach the resistance level. In the coming days, we are expecting the price to increase and hit the resistance area again, followed by a reversal that can reach the support 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:XCUUSDShort
by financialflagship
20
Inflation Is Real and Commodities Are Showing ThisInflation fears are getting real yet there appears to be no sign of the money printing ending as a +3 trillion dollar budget agreement has been reached this week in the US, and the unbelievable rally in commodities since March of 2020 is a manifestation of this. Its been higher higher after higher high and it appears to be attempting to put in another lower high after consecutive lower highs the last 16 months as well. Should the upward sloping green trend line serve as support once more, look for a retest of the PDBC's all time high at roughly 2% from where we are currently to the upside. If the ETF can find support above that level, a 10% move to the top of the channel could be instore. If the trend breaks, look for support at $19.35. Ultimately, the bears would want to see this thing break out below $18.91 to confirm a bearish reversal of commodities.. a feat that appears to be a tall task given the current state of affairs with the macros.
NASDAQ:PDBCLong
by TradeVibez
COPPER- All 4 targets reached/ Time to go Short? Since May last year Copper had been selected as one of our main investments for the year 2020/2021 ?( check the previous idea here ). We had placed 4 take profit levels early in January to be taken and they were taken successfully , just a bit faster than we thought! At this stage, Copper should leave some profits behind so we are entering a short term short position until our charts demand that we buy in again. This, despite today's news that Shanghai copper rose on Monday on top metals consumer China's move to boost liquidity, while a steady dollar ahead of U.S. inflation data kept London prices under pressure. In anticipation of Chinese data tomorrow morning we feel this is a good entry point at resistance. the FXPROFESSOR
COMEX:HG1!
by FX_Professor
2
COPPER (XCU/USD) – Week 28 – Another drop is close.Last week, we correctly anticipated Copper to start a correction that will push the price towards the resistance level. In the coming days, we are expecting the price to slightly break the resistance area, followed by a reversal that can reach the support 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:XCUUSDShort
by financialflagship
24
Bitcoin & Traditional marketsBitcoin is in a weird situation which looks like strong accumulation, while Bitcoin is cheap based on various models and indicators... However across all timeframes it is bearish. It hasn't managed to close above the Monthly + Weekly pivot, it is still below the main Volume Profile PoC (if we include the January area too) and it is below the all major daily moving averages (50-200-300), except the 350 DMA. Some reasons why Bitcoin and Crypto took such a hit, was that everything got really high really fast, excess leverage & speculations, too many coins, too many new entrants, institutions and most importantly global liquidity was shrinking. The inflation story was overstretched and the reflation/inflation trade was peaking, at least in the short term and the inflation story was driven by speculation and supply shortages, not by monetary expansion and real growth. Those exhaustion signs have been around since early 2021 and in Q2 things started getting more serious. Here I will examine where we are at the moment with tons of graphs. Will try to make it as simple and short as possible, but also describe all major asset classes as I do think that having a clear macro picture will help everyone make better decisions both in crypto and outside crypto. Stocks as a whole grew substantially over the last year, and we did see several indices go up 10-20% from the beginning of the year. The Nasdaq has been the best performer lately, while smaller stocks and stocks outside the US have been suffering. Asian stocks have performed very poorly although up until a few months ago their performance was incredible. Small caps in the US also a very similar story, but ones yields peaked, they peaked too and as the deflation/disinflation story was slowly taking over US behemoths started rising again as they are acting as 50+ year bonds. Currently the trend is benefiting US tech giants which however have grown quite a bit over the last few months and might eventually get a significant correction. If they correct hard, I can't see how small caps won't be affected, as the Russell 2000 has also been showing signs of exhaustion. Hasn't broken down yet and still looking ok for the long term, but until we get a clear breakout being a little more cautious isn't bad. In my opinion stocks will really go parabolic at some point, but I also can't ignore the fact that as a whole they are up 30% from their Feb 2020 peak and the financial system is very fragile. So for stocks the best thing is to be bullish but potentially reduce risk. As the VIX is at such low levels during a pandemic, preparing for higher volatility is the right thing to do. We haven't had a big move on the VIX since the Covid crash and before that we'd get one every 12-24 months. Now that the VIX is down 84% from its peak, completed a full cycle and is sitting at support... It is prudent to have less risk on. The major Meme stocks have had major corrections, but they might not be done yet. At least GME has found perfect support at 180 (talked about it recently). As long as it stays above 160 in my opinion there is hope. Above 220 it could really moon once again. For AMC things looked way more rough but the bounce yesterday really took me by surprise. It was really strong and managed to bounce hard after sweeping a key low. The 50-55$ area is an area of strong resistance, but if it manages to close above it we could see another major squeeze up. The last squeeze was a fomo rally + gamma squeeze + short squeeze and for now I don't know what this one could be like. I have a feeling that the one that will really squeeze this time around while AMC chops around 30-70$ is GME. Why? Double tops usually break and the one at 340 really looks ready to be broken. GME has consolidated for much longer than AMC too. One of the most important markets to look at, are US treasuries. Long dated bonds have been going up (yields down) and that's a deflationary move. What we have seen with the Reverse Repo from the Fed, is that the demand for these assets has been quite high and that the bond market isn't buying the strong reflation story. Just to be clear, both bonds and stocks can go higher, but as bonds fall or rise, certain types of stocks benefit from that. For example the 30Y bond goes down in price, small caps benefit, when it goes up, large caps benefit. The rate of change is also very important as big moves in bonds in either direction can create some short term panic in stocks. From their ATHs bonds fell about 28% which over the last 12 years has been a pretty good place for a long term bottom. However right now bonds have found some resistance and haven't broken out to the upside yet which means their downtrend might resume, which would benefit the inflation/reflation assets (people selling safe assets to get into risk assets). Next most important is the US Dollar. When the USD and Bonds go up together, it's a sign of trouble. Something isn't right... Of course both got significantly oversold and hit key support levels, so this might just be a technical bounce. Neither the USD or bonds have broken out yet. Will show several pairs here like EURUSD, GBPUSD, USDCAD, USDCNH, USDZAR. EURUSD hasn't broken down yet, but below 1.17 I easily see it go to 1.14-1.15 where it could potentially bottom. Until then EURUSD is in choppy waters as it is flirting with the 300 DMA. It's long term trend is up, medium term sideways and short term down... but the bounce of support so far is quite promising. GBPUSD has broken a key diagonal, however the long term structure is quite bullish. It has formed a massive base and could eventually break higher, but until I see a close above 1.46 I'd play this level by level. Why? Because the 1.35-1.45 was multi decade support, so I'd like to see it fully reclaimed. On the USD pairs I do believe the USD has shown some extra strength, but nothing is clear there either. For USDCAD looks like a real strong reversal rally but it could just be a dead cat bounce. For USDCNH we have a similar situation, but with a higher chance that this is a real reversal. USDZAR fell so much that it finally bounced, but has so far found resistance on some previous key support levels. Both that and USDMXN have been getting slammed every single time and for now we haven't had a full confirmation of a reversal for those either. Looking just at EURUSD or DXY isn't the right way to evaluate dollar strength. Finally let's get into the most important commodities. Oil after sweeping its 2018 high by a little bit had an 8% correction and hit some really important support levels. It was a very healthy correction after a very huge rally and it might be over. Oil breaking above 77 again would be very bullish and its current structure is already quite bullish. Getting down to 64-66 would be a very nice buying opportunity. There are huge supply issues for oil and this could take the price much higher over the next few months or years. Copper failed to sustain above its 2011 ATH and the R3 Yearly, which is quite bearish. In the short term it has formed a bearish trend, but the long term trend is up and Copper has both high demand and supply issues. It's sitting above support and looking more and more bullish by the minute, so going long here isn't a bad idea, with a stop below the current lows. Otherwise wait for a break of the ATHs and buy any dips after that. Gold had a similar situation with Copper, but at different times. The truth is that the current macro situation is more bullish for Copper if governments start spending on building/creating stuff, especially for technological stuff or regarding renewable energy. We might have a disinflationary backdrop, but the demand for Copper might be much larger than its supply.
by BitcoinMacro
1
COPPER (XCU/USD) – Week 27 – Another drop is close Last week, we correctly anticipated Copper to start a correction that will push the price towards the resistance level. In the coming days, we are expecting short-term bullish momentum until it reaches the resistance area. Afterwards, we anticipate the price to make another drop and break the support. 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:XCUUSDShort
by financialflagship
10
Altamira Gold (ALTA) Unlocking ApiacasThis has been a superb ride since 2019. In terms of the review, let's consider the following parts: Altamira Gold Copper ↳ On the Altamira side... Apiacas is the rainmaker, for context, after five years of waiting they were awarded this massive land package in the largest producer area in the belt. According to very good sources they have at least 1m/oz cooking here. Induced polarisation is already underway (this is where they pump a current through the rock and it comes back quicker if there are sulphates etc). For those who read the latest press release you will have seen very interesting readings there and positive signs, and with drilling starting this month drilling into 100-150m depth and they will look at gaging how far this goes down and start the next chapter. We are +650% from the lows with both targets above cleared. A home-run for 2020 was the expectation, and a home-run was what was delivered from the Altamira Team. Very well done to those who " swung the bat " and are still holding from 4c/5c !!! It ought to be known by everyone that is following the flows here that we have a final slingshot move cooking towards $2 in play over the coming Quarters. Highly recommend tracking 25c which is going to be STRONG support over the Summer, we look set for a quick test before a slingshot towards our final targets. For those asking about Gold (which I will come onto next) and if prices drop there, cost of production for these guys is around circa $500/oz, so it's irrelevant for the most part. ↳ On the Gold side... We were tracking the highs in 2020 for Gold coming miles ahead of inflation, which is important, because the position only appears to be a temporary one, whereas in reality it can be opened up at any point via risk and further contractions in globalisation. This is true for almost 80% of private assets as we are witnessing a decisive move of capital from Public to Private markets. All the cases of CPI overshoots just show that the function of Gold is not simply consisting of inflationary expectations, rather respective to confidence in the Public Sector. I would recommend looking to the work of Martin Armstrong - for those who have insomnia, a few pages of his work around inflation before bed time is the perfect cure. After the test of $1,680 we successfully completed the 4th wave targets, before attempting a quick test of the highs in Wave 5, which was more skilfully rejected by sellers on the CPI overshoots. A very wide range is now in play which will be enough to take out the amateurs (and in some cases, masters too!!). For those wondering whether to start withdrawing troops, I will be updating a detailed Gold chart separately this week, as mentioned earlier, is really irrelevant from an Altamira perspective. ↳ On the Copper side... Sure ok @ridethepig but why is Copper here and what does that have to do with anything? Santa Helena is the third leg to the stool, this is where they have a lot of copper and other minerals. They have just put a lot of Subject Matter Experts (SME's) out there to put together the exploration program there to target the high grade gold veins, and secondly the copper source. This is also at Apiacas, I think there is probably a lot of Copper there too, will keep an ear to the ground there and keep this one updated. The financing they have achieved is going to allow them to eventually spin off Apiacas and etc into different vehicles but not till we finish the moves in Copper. For those tracking the Copper chart, it is pulling back from the highs as widely expected. We are going to mark the Wave (4) lows somewhere around $3.30 in Q3 right on time for Santa Helena in Q4 for a move into $5. Thanks as usual for keeping the feedback coming!
TSXV:ALTALong
by ridethepig
5
ridethepig | Copper for the Yearly Close📌 Copper for the Yearly Close First with an immediate review of the flows. We were tracking for the capitulation low which was our moment to advance... It was a great choice of moment to load the longs. Extending the belief in commodity shortages which have been entering into play all year long. The highs are worth striving for, all factors remain the same with the macro picture still equal. The main cases where this will play an additional note too at China and Australia flows which is something to consider. After clearing our first targets it's time to aim for the 4.5 main impulsive zone. A flyaway break is in play with such a bullish close, which is generally not very common. Of course the last time this happened was in the early 2000's; and we exploded. As usual thanks for keeping the feedback coming 👍 or 👎
COMEX:HG1!Long
by ridethepig
4
COPPER (XCU/USD) – Week 26 – Expecting another drop.Last week, we correctly anticipated Copper to start a correction that will push the price towards the resistance level. In the coming days, we are expecting the pullback to end around the confluence between the trendline and the resistance area, before dropping towards a new low. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
OANDA:XCUUSDShort
by financialflagship
12
Ammo Inc. ($POWW) - Excellent Risk and Reward OpportunityAmmo Inc presents itself as an excellent opportunity in a market where a large number of stocks are significantly overvalued. Ammunition, as we know it, has been booming for a while since the pandemic and we're now in a shortage, which has allowed this business to position itself very nicely going forward. Roth has labeled a $9 price target on the business. Subsequent to the valuation, it was announced that Ammo Inc. has been included in the June 4th preliminary list of member additions to the Russell 2000® Index and the Russell Microcap® Index, which become effective upon the opening of the US stock markets on June 28, as part of the 2021 Russell indexes reconstitution. About (taken from their website): AMMO, Inc. is a high-quality, technology-driven ammunition U.S.-based company; from our patented STREAK (R), HyperClean, and military ammunition technologies, to the latest and best manufacturing technology in the industry. Our manufacturing facilities and processes meet or exceed all SAAMI and MilSpec specifications. Fundamentally, the company has established itself well and the underlying data can be found at FinViz Technically speaking, the Risk/Reward opportunity is excellent. We can see it has broken out to the upside and has retested the $7.00 mark (the upper trend line) to validate the breakout. Let's be mindful of where this stands after next Friday's close. If we close below $7.00 next Friday, I'll be unwinding my position. I have marked the Stops and Take Profit levels here accordingly. Good luck and be sure to maintain your stops accordingly.
NASDAQ:POWWLong
by MadebyTrade
2
copper premarket. probably getting too specific.I think copper will continue to rise. Copper is a useful metal for lots of electronic devices. Point of control might act as a magnet to draw price higher. In march through april copper was at a decision point, and markets decided it was in high demand. I would be surprised if price went back lower through that heavily traded range. If I was ordering copper for a large company I would probably feel like I'm getting a relatively good deal and/or a good deal may be running away from me if I don't act with haste.
COMEX:HGN2021Long
by emehoke