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Copperfutures

Copper - (continued) SHORT; for now ...I fail to grasp the general consensus where the overall impression seems to be that "bad technicals" but "a very pretty fundamental picture"? LME stocks jumped +45% just since January alone! - How is that a "good" fundamental picture? (I must be missing something, especially with China not coming back, in any way resembling past demand.) Long(er) term, one could make a case, perhaps, but only by disregarding the hole that the decline of Chinese demand will poke into global fundamentals. On the other hand, Copper/Gold ratio looks rather bullish. Here is a close-up; As for the Copper/Gold Ratio; That is definitely what bullish looks like! Stay SHORT for now (... and then make a lot of money trading it from under 3.50 ;-)
COMEX:HG1!Short
by Nemo_Confidat
2
COPPER: Best sell signal on a 1 month basis.Copper hit the top of the Channel Down pattern that started in mid January and got rejected straight away. The 1D time frame already turned neutral (RSI = 51.361, MACD = 0.023, ADX = 28.747) and if the price crosses under the 1D MA50 and MA200, it will give a confirmed sell continuation signal. First target is the S1 (TP1 = 3.5525) and second near the S2 (TP2 = 3.3750). A 1D RSI Double Bottom inside its S1 support, will be the first buy signal. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
COMEX:HG1!Short
by InvestingScope
2
HG1! One word - CLEAN!COMEX:HG1! One word - CLEAN! What a beautiful chart for copper! Technically it's ever so clean, when it comes to set ups like this - Be careful of fake breaks. Pattern - Triangle/Pennant Highs: 4.2100 Lows: 3.8255 A break of highs I expect: 4.3550 & 4.5570. However, a break of the lows I expect: 3.6740 & 3.5040 and perhaps lower! Currently, as long as we within this channel and within these ranges... until break either side! Have a great week ahead & it's a long weekend for some of us! 🔆 Trade Journal 🔆
COMEX:HG1!
by Trade_Journal
Copper: Like a Lead Weight ⚖️No worries – we didn’t confuse our metals! However, like a lead weight, copper should continue to sink further, heading for the green zone between $3.08 and $2.59 in the south. Already the price has broken free from the recent sidewards movement and has developed a new low, showing more and more downwards momentum. Once copper has arrived in the green zone, it should complete wave 2 in green, marking a distinctive low, which should then introduce a strong upwards movement.
COMEX:HG1!
by MarketIntel
Copper rally to be capped.XCUUSD - Intraday - We look to Sell at 4.185 (stop at 4.230) With signals for sentiment at overbought extremes, the rally could not be extended. Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. Early optimism is likely to lead to gains although extended attempts higher are expected to fail. We look for a temporary move higher. Our profit targets will be 4.075 and 4.055 Resistance: 4.160 / 4.187 / 4.250 Support: 4.150 / 4.080 / 4.030 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
COMEX:HG1!Short
by VantageMarkets
XCUUSD ( COPPER / USD ) Commodities Analysis 10/01/2023Fundamental Analysis: china is the biggest copper consumer and as of now we can see the most of its manufacturing plants and factories are getting shut due to Protests and ongoing havoc in the country. DXY is very bullish which can go up to 130 and ultimately will result in the more price fall in the commodity sections. World economic Crisis and Supply chain Disturbance which will lead to the Manufacturing Halt. Technical Analysis: Bearish Divergence of Price and MACD, Hidden Bearish Divergence Formation in the process which is a very strong Bearish Trend continuation sign. Nest Resistance and Potential Pivot Point 9500$ lower Support at 8450% Bearish Targets: 5800$, 5250$, 4300$
COMEX:HG2!
by BitonGroup
2
Copper analysis and ideas: Will bears come back?Copper prices may remain under pressure in the coming months due to investors' apprehension about China's growth prospects in the wake of the 20th National Congress of the Chinese Communist Party, which disappointed the market. Since September, copper prices have fluctuated within a relatively narrow range (3.2-3.6) after the earlier sharp declines occurred this year. The long-term case for copper remains strong, as it is a key metal for the energy transition and global inventories are currently very low. However, one of the main challenges it faces in the near future is its dependence on China’s economic growth. The brown metal will remain under pressure unless China announces new growth-friendly economic policies to counteract the predicted slowdown in the country’s economy. However, the latest China Party Congress appears to prefer fostering sustainable growth and giving more importance to inequality, national security, and ideological matters. Copper bull markets have historically coincided with periods of extraordinary global growth, driven primarily by China. We have now reached a crossroads in that regard, and if China is unable to maintain high and consistent economic growth, copper will have to wait for a new global wave of coordinated investments toward the development of renewables and green energy. However, given the issues with inflation and rising interest rates that we are currently facing, it may still be years before the transition fully takes hold on a global scale. This could take the price of copper subdued for longer. When we look at the daily chart, we can see that some bearish pressure was forming near the 78.6% Fibonacci retracement level of the 2022 range. Also the 50-day moving average has been a quite strong dynamic resistance later. The technical picture remains overall on the bearish foot, and copper needs to clear the 2022 trendline at around $3.75 and then cross the psychological $4.00 mark before materially inverting the downtrend.
CAPITALCOM:COPPER
by Capitalcom
Elliott wave Analysis of Dr. CopperCopper is in downtrend from the high of March-07-2022, as per elliott wave analysis the copper seems to be in (corrective) 4th wave. If my analysis and wave counts holds good, then the 4th wave should end below the low of wave 1 which is "4.0346". The 4th wave should clearly show the ABC corrective pattern. The trade idea is to SHORT COPPER in the 5th wave, there is no way to predict exact point when the 5th wave will start and end. But if the copper price keeps going up respecting 4th wave, we will have a good trade. Possible reversal from 4th to 5th wave can be determined by superimposing Weekly and Monthly Pivot Points on top of the elliott waves, I expect it to happen in early August. I will post an update whether we have a trade or not, until then keep an eye on Dr. Copper.
FX:COPPER
by spranav
Short Term Copper 'SELLS' heading into Q4 of 2022I think it's becoming more and more clear that copper sells could extend into the last quarter of the year. Corrective wave 4 seems complete at 0.382 of the second Minor wave count and price is currently in an impulsive bear wave of a lower degree. We should therefore expect Copper prices to plunge to $2.96/lb(-15.4% decline) with some minor bullish price action to around $3.2/lb before eventually finding support at $2.7/lb, representing a -22.42% decline based on the current market price. As indicated in the chart, this short idea comes into play ONLY WHEN Copper prices drop BELOW $3.35/lb, which is the terminus of the minuette wave 1. Additionally, I strongly recommend you to review my long term forecast in profile. Here is a link to my previous Copper forecast. Disclaimer: The information provided here is only for educational purposes and should NOT be taken as investment advice.
OANDA:XCUUSDShort
by Timgucci
COPPER FUTURES (HG1!), H4 Potential for Bearish DropType : Bearish Drop Resistance :3.5785 Pivot: 3.4160 Support : 3.2760 Preferred Case: On the H4, with price breaking the trendline and moving below ichimoku indicator, we have a bearish bias that the price will drop to the pivot at 3.4160 where the swing low support, 78.6% fibonacci projection and 161.8% fibonacci extension are. Once there is downside confirmation that price has broken pivot structure, we would expect bearish momentum to carry price to 1st support at 3.2760 where the pullback support and 78.6% fibonacci retracement are. Alternative scenario: Alternatively, price could rise to 1st resistance at 3.5785 where the pullback resistance is. Fundamentals: No Major News
COMEX:HG1!Short
by Genesiv
Global headwinds for copper?Copper has attempted a rebound from technical oversold levels in recent days, following a 20% drawdown from its all time highs, thus officially entering a bear market. Is this an indication that investors have already priced in a global economic downturn and that the worst is now over? Or are we merely experiencing a copper bear market rally, with further declines to come? The previous days have acted as a relief rally in all assets that had declined in recent months. That's because interest rate fears cooled as inflation peaked. The market is beginning to believe that the Fed may not go all-in with rate rises and will thus need to release the brake to prevent more damage (a recession). However, the most significant concerns associated with copper, particularly Covid-19 in China and the negative repercussions on global growth, have not dissipated. If current geopolitical and economic challenges, such as Covid in China and the conflict in Ukraine, derail globalization efforts, copper prices may face further headwinds in the coming months as trade flows stall due to a drop in global consumer demand amid real income losses. Copper prices exhibit an extraordinarily close link with South Korean exports ECONOMICS:KREXP — one of the world's most open economies and a gauge of the health of global trade flows. Read more...
CAPITALCOM:COPPER
by Capitalcom
COPPER, THE MATERIAL THE FUTURE IS MADE OF, MACRO TRADESee chart. COPPER on the verge of a multi DECADES break out. I cant see any better long term investment. EVERYTHING ABOUT ENERGY IS MADE OF COPPER. Every single TESLA will use lot of copper. Every Internet of Things will be made of copper. Semi-conductors.. shortage? it rhymes with copper shortage as well! Hell even BITCOIN is basically copper made. And guess what... copper is not that easy to dig as well. Join the beautiful people club, trade commodities, trade COPPER! Target= multi years returns, no target, just a long term holding. PS: Dont expect it will double in one night, it wont! Follow the dollar to buy the dips.
COMEX:HG1!Long
by Ankel-ssj