Well, copper definitely showing continued strength. Any failure to bounce off res. turned supp. is an immediate short opportunity, otherwise stay out of the way.
The traditional relationship between the Copper/Gold Ratio and US 10 year yields - which has proven sound over the longer term - is suggesting a potential up turn in US 10 Year Yields. One big caveat on this analysis is the Federal Reserve. Should Powell et al intervene at the longer end of the market, this will upset the ratio and send rates lower, even if demand...
A very important long-term pattern was just formed on Copper. On the 1M time-frame, the MA50 (blue line) and the MA100 (green line) have formed a Golden Cross. Last time that happened was in August 2004. Copper rose by +370% from the MA100 break-out level. The Cycle seems to be repeated as the Golden Cross has come after the price Double Bottomed last March...
Copper - Intraday - We look to Sell a break of 34580 (stop at 34910) Trend line support is located at 34850. Daily signals for sentiment are at overbought extremes. A break of 34600 is needed to confirm follow through negative momentum. A higher correction is expected. Although the bulls are in control, the stalling positive momentum indicates a possible...
Copper - Intraday - We look to Sell a break We are trading at overbought extremes. With signals for sentiment at overbought extremes, the rally could not be extended. A higher correction is expected. Rallies should be capped by yesterday's high. Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible. Short...
Copper broke a key level and has plenty of room for more upside growth.
Copper traded on the COMEX looks bullish. Currently at 3.20 per pound, the chart shows an Eve and Adam bottom forming between 2015 and now. The expected target of this move would be 4.70 which would put the market five cents above its old high set in Feb 2011 of 4.65. From 4.65 I would expect the market to revisit the 3.30-3.60 region to make a strong bottom...
Hello everyone This is my Copper idea for Daily time frame watch key notes for more detail on chart for any question feel free to ask :) good luck
After a strong rally, the price of silver has been creating a correction. The whole corrective movement may look currently like a triangle pattern with support at 26 USD and resistance set by the line drawn through the tops. If the trendline is broken the market may create an upward movement to the previous highs at 28,50 or 29,40 USD. It seems that only a move...
Copper Futures were very volatile last week. Usually, it indicates a big move coming. I think this market sets for decline as well: COT – commercials have one of the largest net short positions we have seen for quite a while The cycle is turning to the downside with a potential reversal point at the beginning of November Daily chat has an interesting pattern...
The price of silver futures contracts has been broken an upper limit within a multiyear consolidation which has been creating since 2016. However, before the breakout the potential divergence between the price and market positioning could be spotted. The data from the COT report may signal that the price may go even further to the upside because there are no...
We can experiment with the opening here in the copper/gold ratio as commodity shortages begin to make the rounds as widely expected. 📌 Probably the most sensible response is to prepare for a slingshot into Copper with reversed flows in and out of Gold. Shortages/ It seems to be an inflection point at an early stage in the crisis. I would have preferred...
Can expect rising channel to break - signalling bearish turn - if US/China tensions escalate
Copper Future - May 2020 - Opportunity to Buy in a bearish market (buy at 2.3265)
All info on chart. Please leave feedback/comments :)
Beyond all fakeouts, for copper until now the area $ 2.54 has proven to be hard to breakthrough. If the US stock market maintains its bearish bias also in March, then most likely this will be a right time to see copper below $ 2.50. However, the decline will be more pronounced on the copper at the LME (London Metal Exchange) than on that at the NYMEX. Be careful...
Copper is forming Inverse Flag Pattern with Harmonic ABCD pattern, it may test to 2.64 at point D, in order to complete ABCD pattern. at same time it may show false upside breakout. We have to wait for reversal candle at 2.64 level to make short position of Flag pattern target. Sharing is caring, for educational purpose only.