Short coppercopper has made a double top at 4.12 which i believe is bearish and early next week it will definitely challenge the 4 mark. Because of this i am expecting a drop in s&p to around the 3800 mark some time next week
Coppershort
Copper is appraoching resistance, potential reversalCopper prices are approaching our first resistance, in line with our descending trend line where we could see a further drop below this level. Stochastic is approaching resistance as well, in line with our bearish bias.
Copper prices are appraoching resistance, potential reversal Copper prices are approaching our first resistance, in line with our descending trend line where we could see a further drop below this level. A break below our downside confirmation level could see a further drop to our first support target. Ichimoku cloud are showing signs of bearish pressure as well, in line with our bearish bias.
Copper prices remain under bearish pressure
Copper prices reversed nicely from our first resistance and are facing bearish pressure from our descending trend line where we could see a further drop below this level. A break below our downside confirmation level could see a further drop to our first support target. Ichimoku cloud and 20 EMA are showing signs of bearish pressure as well, in line with our bearish bias.
Copper prices are facing bearish pressure, potential reversalCopper prices are reversing nicely from our first resistance and facing bearish pressure from our descending trend line where we could see a reversal below this level. Ichimoku cloud and 20 EMA are showing signs of bearish pressure as well, in line with our bearish bias.
Copper Short SetupCopper Short Setup
🔵 Entry: 4.0263
🟢 TP & RR: $3.8877 (1.89)
⛔ Stop Loss: $4.0996
Trade Reasons:
✔️ Position in direction of the trend
✔️ Price reversed at the upper diagonal trend line
Copper prices are facing bearish pressure, potential reversalCopper prices are facing bearish pressure from our descending trend line and our first resistance where we could see a reversal below this level. Ichimoku cloud and 20 EMA are showing signs of bearish pressure as well, in line with our bearish bias.
Copper prices broke key support, potential for further downsideCopper prices are facing bearish pressure from our descending trend line and approaching our first resistance where we could see a reversal below this level. Ichimoku cloud and 20 EMA are showing signs of bearish pressure as well, in line with our bearish bias.
Copper is approaching support, potential bounceCopper prices are approaching our support, in line with our horizontal swing low support, 78.6% fibonacci retracement and 100% fibonacci extension where we could see a bounce above this level to our first resistance target. Stochastic is showing signs of bullish pressure as well, in line with our bullish bias.
Copper is facing bullish pressure, potential for further upside Copper prices bounced nicely from our first support previously to reach our resistance target. We maintain our bullish outlook on Copper as prices are facing bullish pressure from our first support in line with our 61.8% fibonacci retracement and 78.6% fibonacci extension. A break above our upside confirmation level could see a further push up to our first resistance target.
Copper Short SetupCopper Short Setup
🔵 Entry: $4.327
🟢 TP & RR: $4.140 (2.02)
⛔ Stop Loss: $4.420
Trade Reasons:
✔️ 1.618 Fib Level Extension
✔️Market Flow overbought level
📝 Fairly basic setup, trying to capitilize on a potential pullback.
Copper is facing bullish pressure, potential for further upside
Copper broke our upside confirmation previously. Currently, price is facing bullish pressure from our first support, in line with our graphical level, where we could see further upside above this level. Ichimoku cloud is showing signs of bullish pressure as well, in line with our bullish bias.
Copper is facing bullish pressure, potential for further upsideCopper bounced nicely from our support level to hit our resistance target previously. Price is facing bullish pressure from our first support, in line with our horizontal overlap support, 23.6% fibonacci retracement where we could see a further upside above this level. A break above our upside confirmation level could provide the bullish acceleration to our first resistance target. Ichimoku cloud is showing signs of bullish pressure as well, in line with our bullish bias.
Copper is facing bullish pressure, potential for further upside Copper bounced nicely from our support level to hit our resistance target previously. Price is facing bullish pressure from our first support, in line with our horizontal pullback support, 23.6% fibonacci retracement and 61.8% fibonacci extension where we could see a further upside above this level. Ichimoku cloud and 20 EMA are showing signs of bullish pressure as well, in line with our bullish bias.
Copper prices could see further upsidePrice is facing bullish pressure from our first support, in line with our horizontal overlap support, 61.8% fibonacci retracement where we could see a further upside above this level. Ichimoku cloud and 20 EMA are showing signs of bullish pressure as well.
Copper prices is facing bullish pressure Price is facing bullish pressure from our first support, in line with our horizontal overlap support, 61.8% fibonacci retracement where we could see a further upside above this level. Ichimoku cloud and 20 EMA are showing signs of bullish pressure as well.
Copper is approaching support, potential bounce Price is facing bullish pressure from our first support, in line with our horizontal pullback support, 38.2% fibonacci retracement and 61.8% fibonacci extension where we could see a further upside above this level. Ichimoku cloud and 20 EMA are showing signs of bullish pressure as well.
Copper is testing resistance, potential reversal Price is approaching our first resistance, in line with our horizontal swing high resistance, 127.2% fibonacci extension and 76.4% fibonacci retracement where we could see a reversal below this level to our first support target. Stochastic is testing resistance as well, where we could see a reversal below this level.
Copper is approaching resistance, potential reversal
Price is approaching our first resistance, in line with our horizontal swing high resistance, 78.6% fibonacci extension and 78.6% fibonacci retracement where we could see a reversal below this level to our first support target. Stochastic is testing resistance as well, where we could see a reversal below this level.
COPPER - Updated chartOur updated chart shows that clearly the price is in a descending channel.
Our take profit levels are broken down in 4 layers.
The price of Copper will be depending on mainly Asian and other indices performance, especially the more industrial ones.
Copper is approaching resistance, potential reversal Price is facing bearish pressure from our first resistance, in line with our horizontal swing high resistance, 78.6% fibonacci extension and 78.6% fibonacci retracement where we could see a reversal below this level to our first support target. Stochastic is testing resistance as well, where we could see a reversal below this level.
Copper is facing bearish pressure, potential reversalPrice is facing bearish pressure from our first resistance, in line with our horizontal pullback resistance and 61.8% fibonacci retracement where we could see a reversal below this level to our first support target. Ichimoku cloud and EMA are showing bearish pressure as well in line with our bearish bias.
