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Coppershort

Copper Tempest: The Bear before the BullIf you like this idea, don't forget to hit the Like Button and to Follow Me! Exciting days for Copper. The brown metal reached the $2.8575 level. I'm confident that copper price will rise in the long run if copper demand, especially for China (largest copper consumer), will continue to record highs (527,000 tons in December 2019). However, we still live on planet earth, and we need to make a deal with technical analysis. I believe Copper has terminated an Elliot wave impulse, with wave 5 hitting today's high ($2.8575). I will expect in the next days the A, B, and C corrective waves. This theory is enforced by Volume Profile analysis (performed on Elliot Impulse Range) that shows POC support at $2.6436, and an exciting volume development around $2.7947. I expect corrective wave C to touch this support to bounce back for a new impulse wave 1 (If the market will let it). Stochastic still confirm this analysis. The indicator showed no reversal for this cycle, and it is approximating the overbought area, by the way, again with a bullish setting. Disclosure: My ideas contain statements and projections based on assumptions on capital markets, and therefore inherently subject to numerous risks and uncertainties. Before buying or selling any stock you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal. I am not a financial advisor.
OANDA:XCUUSDShort
by Investing_Fellow
2
Price Expansion Week for Copper, now what?Referring to last week's plan for Copper below : ..the price did in fact expanded to the downside as we anticipated after the range was below the 20-week AWR range projection in the previous week. However, as price expansion happened mostly on that Tuesday, the price failed to meet Copper's 20-day ADR from Wednesday until the market closed on Saturday morning (Singapore/Malaysia time). That is 3 days missed days and I expect a price expansion in daily range context between this coming Monday to Wednesday. I am still bearish Copper based on these oversimplified rationales : 1. Fundamental Analysis rationale, the increase of global copper supply, the reported weak demand for copper and reports that China is increasing its output whilst data suggests their demand for Copper is weak 2. Technical Analysis rationale, the long term timeframe shows price hasn't broken certain resistance levels to warrant me to change my overall bias from bearish to bullish. I am looking for a bull trap at the levels I have marked.
OANDA:XCUUSDShort
by sufiansaid
vente du cuivre imminenteJe vais surement vendre le cuivre dans les heures qui suivent si une opportunité se présente. à court terme sur la semaine dernière le cuivre a fait un nouveau point plus bas qui indique un retournement de tendance. Aujourd'hui le prix remonte jusqu'au pivot qui coïncide avec les moyennes mobile 50. ça laisse un bon ratio de bénéfice/risque si l'on va jusqu'à 2.54 ou 2.53 avec un SL à 2.567. Sur le graphique journalier ci dessous nous avons eu 2 "pinbars" et nous somme dans une tendance plutot baissière. Malgré que nous arrivons à un support je pense que ça peut encore baisser.
FX:COPPERShort
by Fredou
4
Elliott Wave View: Copper Expected to Turn Lower SoonShort Term Elliott Wave structure in Copper suggests the rally to $2.64 ended wave (2). The metal has since resumed lower in wave (3). The internal of the move lower is unfolding as an impulse Elliott Wave structure. Down from 2.64, wave ((i)) ended at $2.578, wave ((ii)) ended at $2.626, wave ((iii)) ended at $2.547, wave ((iv)) ended at $2.575, and wave ((v)) ended at $2.49. This move lower from August 14 high (2.642) to 2.49 completed wave 1 in the higher degree. Wave 2 bounce is currently in progress to correct the cycle from August 14 high. The internal of the rally is proposed to be unfolding as a double three Elliott Wave structure. Up from $2.49, wave ((w)) ended at $2.549 and wave ((x)) ended at $2.528. Wave ((y)) of 2 is expected to reach the blue box area of 2.587 – 2.623. From this area, Copper should then resume lower or pullback in 3 waves at least. We don’t like buying the metal. Expect the metal to find sellers and extend lower soon or at least pullback in 3 waves as far as pivot at 2.642 high stays intact.
COMEX:HG1!Short
by Elliottwave-Forecast
Copper - no bullish scenario short - medium termHi, thanks for viewing. I am not presently able to trade Copper, but it remains of interest for a few reasons. One is that the majority of silver (56%+) is produced as a byproduct of copper, lead, and zinc mines, so reductions in the price of those industrial metals may point to a slowing of production of silver. I am not sure of the numbers for gold, but at least some of the world's gold is produced as a byproduct (Indonesia's largest gold mine produces gold (as a very valuable) byproduct to copper extraction. Copper, Lead, and Zinc are all in long-term down-trends. A side note: The mine mentioned above has successfully hedged the copper price at $3/lb (for at least 2 years I believe) so until that ceases being the case there is unlikely to be a drop-off in copper / gold production from that mine). Also, most primary silver producing mines in the US are now producing silver at a loss. There is no reason - that I can see based on TA to expect a strong bounce. Fundamentally, global demand is slowing, as well as manufacturing output - so fundamental analysis won't be of any comfort either. Orange boxes just denote small areas of overlapping price action. The blue box is my short close / medium-term buy zone (no upside targets as yet - if price does not go below $1.98).
OANDA:XCUUSDShort
by flyinkiwi10