H1 - Bullish trend pattern Higher Highs Currently it looks like a pullback is happening Until the strong support zone holds my short term view remains bullish here.
Copper is managed to bounce from 750 level and in last trading session give strong recover from bottom. On daily time frame made a bullish pin candle near resistance zone. Breaking above 760 will trigger strong buying and target will be 770 to 775.
Coppers trading range is narrowing quite a bit. initially i got my timiing wrong on this (see other analysis), but now seems to be teh right time for a reversal breakout upwards. expect copper to head up to $4.40. will need to reassess there to decide which way next. overall long term expecting copper down.
One of the best looking and yet under-rated commodities chart has to be of COPPER. I know Gold and Silver bugs don't usually get strayed with non-precious metals but technicals are surely juicy if you are able to take a multi year position. My guess is it will be early 2023 when we break through the new ATH. Notice the divergence of price and OBV + a...
Buy at 518.70 stop loss 516.80 Target 522.75 / 532 Fibonacci and Gann always rocks support us follow us and research with us
Buy at 523.60 stop loss 522.50 Target 525.50 / 526.50 Sell at 527.80 Stop loss 529.30 Target 526.50 / 525.50 which ever entry triggers first then go that side and leave the other view Fibonacci and Gann always rocks support us follow us and research with us
Intraday Commodity Future Buy COPPER AUG @532.2-532.4 SL 529.90 TGT 536.20 Above VWAP + TL cross over + MACD cross over
Comparison of TOTAL2 and Copper Similarities can be seen in the formation of a scallop This may lead to a bullish C wave breakout on copper I identify this structure as 'weak' due to its lacking of a strong double bottom and slight downward slope, however it is a good chart pattern for accumulation.
Copper seemingly has broken its downtrend, with the presence of a strong linear regression uptrend on the daily chart (0.86) this upward movement will likely continue.
Just my opinion on what market might currently be doing. Enter and exit at your own risk. DISCLAIMER Please note that this chart is an opinion based chart only. Please trade at your own risk
Copper Finally showing some good movement. I have re-opened my copper position and will also be looking to get into some BUY positions on the AUD side. The reason I say it is confirmed now is that it broke back above the 50 day MA, it's above the 50 RSI and the MACD (looks like) it wants to start heading into positive territory. The only thing to watch is the...
Finally gone long on copper - I still want to see the RSI get above 50 - BUT - It has maintained above the 9 day MA for the past 4 trading sessions, the stochastic has it moving up, and the MACD did make a positive cross over so I jumped in.
I think it's just about time to buy copper again, in fact I was flipped the buy signal back on April 24th. However, I am sitting on the sidelines, mainly because I want to see the RSI get back over 50 before jumping back in. Once the RSI can get back above 50 (if it does within the next few trading sessions) I'll be going long copper :) Fundamentally, Copper...