Copper Trend intactCopper has a strong uptrend with a stair-step behavior.
With pent-up demand for semi-conductors, copper mining has been increasing to help suppliers.
For in depth analysis, please check my last charts on CPER.
Copper Futures HG1!
BEWARE IMPORTANT COPPER PRICE LEVEL - HG1! - COPPER - DAILYThank you for your likes and comments! Really appreciated! This is an idea about Copper price, not a financial advice.
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The HG1! Copper Futures have been continuously rising... almost a year.
We realized that summer is coming and that this market have been beating all the selling power trying to bring it down of slower it>
How long is it going to last?
The blue lines represent the channel that the price is following. Being at the top of this channel and seeing a possible strong signal of a pullback, the probability of seeing the market profile change has risen.
The volume involved where huge but will it again beat it and keep going up further?
The next step down is probably at the dotted red horizontal line. Some other "super volumes" interventions happened in that past at that price level.
For a day traders, this is probably something to keep an eye on> For a longer term trader, lowering the exposition is probably smart at this price level. Reentering step by step after this level is passed or when the deep happens.
COPPER (XCU/USD) – Week 22 – New top on the cards.In our previous analysis, we expected Copper to test the support level before resuming the bullish trend. Instead, the price started the bullish move without testing the support level.
In this context, we expect a pullback to occur around the orange trendline that will act as a trigger for a bullish move that will break the previous high.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
COPPER (XCU/USD) – Week 21 – Targeting the support.In our previous analysis, we expect Copper to start a bullish move and break the top. Instead, the price has fallen into a deeper correction.
In this context, in the coming days, we are expecting a slight price increase towards the resistance area, before making another drop, having a chance to reach the support.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Price action on #Copper $HG The narrative around copper is very compelling.
1) $5T of Government spending in the next 10 years for renewable energy development
2) Electric cars
3) Miners underinvestment in recent years
What this says to me is the simple fundamentals from miners...limited supply would be enough to extend this commodity bull cycle.
Beyond that...we have car manufacturers making bold moves to have a majority of their fleets electric within the next 10 years.
European and California carbon credits markets are becoming more developed...producing incentives for companies to move towards greener technologies. Whether you agree with the politics of it or not...it is happening.
And massive government spending on renewable energy.
What does all this green stuff have to do with copper?
All these need copper...and lots of it!
With just experiences a 50% retracement from the May 21st high of 4.5815 and made a double top with divergent RSI this morning.
Zooming in we can see some impulsive buying around the $4.5 area.
The long term trend in copper looks very promising.
Could it go lower? Of course...but today's price action has me watching very closely.
COPPER (XCU/USD) – Week 20 – New top expected.As we mentioned in our previous analysis, Copper pulled-back and it looks like the price is starting to lose momentum, after reaching our trendline.
In this context, in the coming week expect this pair to make a new top.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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Copper close to complete the measured move!Copper has a healthy stair-step trend, with mid-term consolidations after big rally's, as drawn in chart.
We are about to make the measured move which I projected in my last chart on this ETF, at this point I expect we could enter a period of consolidation.
Risk Management
I will tight my exits to the 5-day moving average once we complete the measured move. That way I can still be in it if it continues to rally, but will secure my gains which I set in my initial plan.
To see the initial plan and breakout setup, click on related ideas "Copper breaking out"
COPPER (XCU/USD) – Week 19 – Strong bulls.In our previous analysis, Copper continued, as expected, its strong bullish momentum.
In this context, we anticipate a pullback to occur in the following days, towards the support area before continuing the big Monthly uptrend.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
COPPER- Can it go to 6??Copper is flying high and the question is where to?
We have reached all 4 take profit targets , relatively faster than expected.
Does Copper price have potential to go to 5 or even 6? I guess we will find out soon.
the FXPROFESSOR
COPPER (XCU/USD) – Week 18 – Strong bulls.In our previous analysis, Copper broke the top, despite our initial expectations regarding a possible price decrease.
Having said that, in the following days, we anticipate a pullback towards the support area before resuming its uptrend.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Copper Very Cheap and New Silver 8$-9$-10$ Copper, Solar panels,
wind turbine and New generation drone, jet, car, tank, heat pipes,
electricity. so copper will be needed every day.
It was the decision to press the US and Europe bar at first.
In other words, they will encourage the people to shop by impoverishing them.
Factories will store tons of copper, except for those who want to protect their money.
I have not seen any damage so far. Those who wait will always win.
Don't Shake Yourself. Think long term.
It is not investment advice.
I buyed, I wait, I'll keep it until I die if necessary.
I will leave a legacy to my children.
The graphics never hold 100%,
do not stretch yourself,
do not hurt yourself to make a trade.
After all, copper will be used in those skyscrapers.
Cu time, Cu time, Copper win time...!
Thoughts on CopperBullish on copper with the current confluence of news -
Goldman called copper the new oil due to its links to the green energy sector and gave a very bullish price forecast citing a potential future shortage due to "demand increasing 900% by 2030"
Coinciding with this was the mining strike in Chile - first the rumblings of a strike then the actual strike itself. Chile produces roughly 25% of the World's Copper.
Currently we are in a bullish channel on the daily chart and I expect we could see a bounce off the upper trendline, especially if positive news from Chile breaks at the same time as the price reaching this area.
Copper Heads for the Highs
A late February peak runs out of steam and makes a comeback
LME and COMEX stocks rise
Inventories can be a mirage
Goldman Sachs makes a bullish call- Three reasons for higher copper prices
Heading for new high- Copper could go parabolic
In March 2020, nearby COMEX copper futures traded to the lowest price since June 2016, when it reached a bottom at $2.0595 per pound. In February 2021, the price traded at a decade high at $4.3630 on the continuous contract. Copper fell during the height of the global pandemic’s impact on markets across all asset classes. The price moved from a four-year low to a ten-year high in a little less than one year.
The trend in copper is higher, and we could be on the verge of a move to prices above the 2011 $4.6495 peak. Copper is a building block of infrastructure worldwide, but it is also a metal with many industrial applications.
A late February peak runs out of steam and makes a comeback
The trend of higher lows and higher highs in the copper futures market remained intact at the end of last week.
After reached a continuous contract peak at $4.3630 in late February, the highest price in a decade, copper pulled back below the $4 level, reaching $3.8760 in early March. Since then, the price has been climbing and was back above the $4.33 level at the end of last week. Open interest, the total number of open long and short positions in the COMEX copper market moved from a low of under 162,000 contracts in May 2020 when copper’s price was under $2.40 per pound to the 247,572 level at the end of last week with May copper futures settling at $4.3360. Rising price and increasing open interest is a technical validation of a bullish trend in a futures market. Weekly price momentum and relative strength indicators were well above neutral readings and rising. Weekly historical volatility at 18.76% indicates the bullish trend is slow and steady. The metric reached a high of over 37% in May 2020.
Copper backed off from the February decade-high peak, but the price came storming back and is now a stone’s throw away from an even higher high.
The semiannual chart shows dating back to 1988 illustrates the all-time high came in 2011 at $4.6495, only 31.35 cents above the closing price on April 23.
Heading for new high- Copper could go parabolic
Copper was below the 2011 high on Friday, April 23. The LME price was under $10,000 per ton. Goldman Sachs’ forecast is for $11,000 per ton in the next twelve months. However, as “copper is the new oil,” the longer-term price expectations are far higher as they see demand rising much faster than supplies. Goldman sees copper at $14,000 per ton in 2024 and $15,000 per ton in 2025, over 50% higher than the current price approaching the 2011 high.
Bear markets often take prices far below where logic dictates. If you have any doubt, look at an oil chart from April 20, 2020, when NYMEX futures fell to the negative $40.32 per barrel level during a tidal wave of selling. Bull markets have a habit of moving to levels that are far higher than analysts expect when a buying frenzy creates parabolic moves. Lumber was at $251.51 per 1,000 board feet in April 2020 and moved nearly five and one-half times higher at the recent $1374.70 level. Copper is not the only commodity rallying these days. Grain prices experienced explosive gains last week. Palladium, a thinly traded precious metal, rose to a new record high at $2928 per ounce last Friday.
Copper has bullish winds behind its sails from a fundamental and technical perspective. The red metal looks set to climb to new heights as the copper bull market appears firmly intact. When markets trend, picking a top can be a tragic mistake. Sit back and enjoy the ride, even though it could become bumpy. The risk of corrections rises with prices in bull markets.
Read the full article using the link below.
Trading advice given in this communication, if any, is based on information taken from trades and statistical services and other sources that we believe are reliable. The author does not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects the author’s good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice the author provides will result in profitable trades. There is risk of loss in all futures and options trading.
COPPER (XCU/USD) – Week 17 – New top expected.Last week, the Copper price increased and broke the resistance, despite our analysis in which we anticipated the price will drop from that level.
In the coming days, we anticipate that we will break the top and then go in a “stop hunt” phase that can push the price down towards the support area.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
COPPER Buy SignalPattern: Fibonacci Channel on 1D.
Signal: Buy as the price rebounded on the 1D MA50.
Target: The 1.5 Fibonacci extension level (low-risk) or the 2.0 Fibonacci level (high-risk).
Previous COPPER signal:
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Copper - SHORT; SELL it!! Long-term SHORTThis is a (very) long-term SHORT!
The long-term picture - the Monthly;
COPPER (XCU/USD) – Week 15 – Expecting the price to drop.Last week, Copper continued to lack volatility and moved sideways the whole week.
In the coming days, we expect the price to start falling and finish this complex correction, reaching the liquidity pool area that we highlighted on the chart.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
SellPlease consider proper support and resistance levels and trade with stop loss.
*Disclaimer: Herewith I just shares my view. Please trade with your own and comfortable views.
🐂 Freeport FCX inflation trade - Bullish flagHi mates NYSE:FCX is perfect setup for long in bullish flag
here is data for my trade:
------------------------Trade setup ---------------------------
Entry: 33.80
Stop Loss: 32.45
Profit target: 43.60
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