𝗨𝗦 𝗦𝘁𝗲𝗲𝗹 𝗨𝗽𝗱𝗮𝘁𝗲: $X Daily. Cup & HandleHas developed into a massive C&H ... wow 👀 ... keep your eyes on this one folks
$FCX $AKS $MP $HG_F $CL_F $SPY $SPX $ES_F $TNX $TLT $ZB_F $ZN_F #Economy #Commodities #Inflation
Copper Futures HG1!
Yield Curve #YC Chart updated.Yield Curve #YC Chart updated.
$USOIL $COPPER $SPX #10s02s
This looks like a top.
Last peak looks like 2016.
Our leaders didn't a down day on the $SPX.
Now cycles are getting shorter and shorter.
Last one: 1 year.
One day reality will kick in.
COPPER - DUE FOR A MAJOR CORRECTION?Looks like copper finally reached the top of the 5 wave impulse. We also saw an extended 5th subwave as the very last wave in the 5th wave which is typical in the commodity market. Also RSI didn't create a divergence but that is because of the extended 5th wave. We should see copper come down atleast 25-30% of it's value as a correction from the huge run it made that started early 2020. This isn't a "crash", this is just a healthy pullback before the next wave up in the future. I'm not planning on shorting it, but I did take profits on my long positions. I will look to re enter when it is done correcting.
June 2021 - Copper 05/03 - Rebounce Sharply1. Fundamental Analysis
- After Chile's announcement about rising copper output, Congo increased production of copper and cobalt.
- Besides, US Treasury yield climbed higher, it directly made US Dollar stronger than currency peer. Therefore, this triggered a wave of sell-off from equities to commodities by funds.
- However, news comes from China that they are targeting GDP growth (at over 6%) are quite impressive. In med tern i think Copper is still good.
But near-term, long liquidation remains in place.
2. Technical Analysis.
After forming the first wave down in daily timeframe (or three waves ABC in H1). I think, Copper will rebounce sharply with three waves up as i draw in my pic.
Of course, we ne to watch close when prices likely break the downtrend in H1 timeframe.
May 2021 Copper - Corrective PatternUpdated: Corrective Pattern.
1. Fundamental Analysis
- Lack of news comes from China, which represents physical demand.
- Waiting for news from non-china (i.e USA: readings from initial claims, unemployment rate...), which show the extent each country are recovering after pandemic.
2. Technical Analysis
- Daily: Copper remains corrective pattern in daily timeframe . And it moves as Wave A-B-C as paragraph.
- In H1: I predict that Wave B are forming, and it can reach to 4.24 - 4.30.
Keep in mind that: 4.24 is resistance zone .
June 2021 - Copper (03/03/2021)Fluctuating in wide range (4.04 - 4.37)
1. Fundamental Analysis
- Waiting for readings about U.S. factory orders, initial jobless claims and durable goods orders.
- Despite Caixin PMI services and indutries were not gud as expected. But, Lots of people remains optimistic.
- Sentiments about this market are seemingly improvement, even Chile annouced their production increased.
2. Technical Analysis
- Daily, Supporting level: 4.04.
- H4, price are fluctuating in a sideway. I expect that Copper need to accumulate, and then climb to former peak. (Around 4.30)
June 2021 - CopperCopper - Correction Ahead
1. Fundamental Analysis
- US Housing Data was quite disappointing.
- Equity market decline & the fear of rising US interest rates.
- In addition, I think copper market is waiting for news which comes from US ( US government's plan for boosting produce electric vehicles) and China (confirmation about speculative buying and demand through readings of Shanghai copper warehouse stocks).
2. Technical Analysis
- This market seems overbought, and there's a sign that people are taking profit.
- Currently, i think copper contracts are moving in a range | sideway (4.08 - 4.37).
- Intraday, prices can climb higher and reach a zone (4.30 - 4.33). It could be a good opportunity for sell to probe the strength of the market)
Copper. Triangle. Breakdown. Timeframe 1 month. Monopolization.Copper. Timeframe 1 month. A huge triangle has formed. Breakdown of the resistance of this formation. Notice how before the price rise they made a beautiful false breakdown. For strong growth, like the last time, it would be good if there was a rollback to the zone of the broken resistance of this formation. Complete development of the goal of the symmetrical triangle 13.23. The minimum goal is 10.1. Implementation until 2023 05 (this is relative time). But this is provided that the price does not fall below the mirror resistance level during a rollback (now it is already acting as a support).
Also now there is a complete monopolization by playing with patents. All small participants in the prey will not survive. This patent game is what sparked this growth.
Think what could happen in the world that would increase the demand for metal so much. Although even today negative dynamics is noted in the extractive sector. Alternatively, demand may remain as it is now or even less, but production due to certain events (not a "virus") may greatly decrease, which will provoke a very strong rise in prices (this applies to all minerals).
EURUSD vs Copper - Something does not add upWhich one is right?
EURUSD or Copper?
They usually follow along but now it seems that they deviated. Which one is right?
If Copper is right then inflation will crush USD soon. If USD is right then it could be due to rising yields on US treasuries. What do you think?
Gundlach ratio suggests 10 Year Yields will continue to climb. The Gundlach ratio tracks the ratio of copper prices to gold as an indicator of future US 10 Year Yields. Gundlach believes in the predictive value of the ratio since copper is sensitive to swings in the economy, while gold climbs when investors get frightened. You can see the correlation with the US 10 Year Yield rate is around at least 95% most of the time, although the correlation does loose connection, but then returns.
Copper has been on a tear (especially since the Chinese returned from their Lunar Holiday) hitting a most recent high of 4.18 per lb, while Gold has dropped below $1800, bottoming at 1760 at the prospect on real yields becoming positive. This has increased the Gundlach ratio and you can see how US10Y rates have also been driven higher.
With copper forecast to go even higher and Gold's future potentially a little less certain (especially as funds are diverted to Bitcoin) this bodes well for future higher 10 year rates.
𝗨𝗦 𝗦𝘁𝗲𝗲𝗹 𝗨𝗽𝗱𝗮𝘁𝗲: $X Daily. Hammer TimeTrying to hammer off of the TL. Back over the 50dma and could rip
$FCX $AKS $MP $HG_F $SPY $SPX $ES_F $TNX $TLT $ZB_F $ZN_F #Economy #Commodities #Inflation
COPPER - Updated chartOur updated chart shows that clearly the price is in a descending channel.
Our take profit levels are broken down in 4 layers.
The price of Copper will be depending on mainly Asian and other indices performance, especially the more industrial ones.
COPPER showing strength. Buy opportunity.Pattern: Channel Up on 1D.
Signal: Buy as the RSI and MACD are approaching their Support levels, while the 1D MA50 (blue trend-line) is closing in.
Target: 4.200 (the 3.5 Fibonacci extension).
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COPPER -Volatility inbound Most likely will rise (70%) chance, volatility inbound is guaranteed.
Asian stock markets rising fast = Copper demand can grow
Dollar issues = Copper can rise
= fundamentals are for Copper to rise, hence I am buying
COPPER - Approaching our first Take Profit LevelI like to set at least 4 take profit levels). Trading becomes really difficult unless you can have the power of patience and the power of taking profits gradually.
This way:
- you don't close in profit too early (oh fuck, i mad 200$ but if i had kept i could had made 2,000$)
- you do take profits along the way ensuring you make something (best trading habit)
- you can change the stop loss at entry (zero risk, you can also calculate the spreads and swaps and do it perfectly)
- if the market reverses against you after at least 1 of the 4 take profit levels has been checked you are guaranteed some profit. Which is still a winner
- you manage to finally create those long-lasting good trades that you opened 2 months ago but they still making you money
Patience is key, Planning is essential, Taking Profit gradually is the Winning Recipe.
ps. there is another element here. To correct your trades early and follow what the chart says. I had to change from sell to buy and I did that efficiently, which makes me happy.
COPPER - New flight inbound Copper price continues to form bullish waves to settle above 3.6400 and confirm the preparation of recording new targets in the near term and medium term basis, expecting to crawl positively towards 3.73 followed by attempting to press on the next barrier at 3.7880 to form the next station of the bullish bias.
The expected trend: Bullish
$5: Copper Aiming for New ATH One of the best looking and yet under-rated commodities chart has to be of COPPER.
I know Gold and Silver bugs don't usually get strayed with non-precious metals but technicals are surely juicy if you are able to take a multi year position. My guess is it will be early 2023 when we break through the new ATH.
Notice the divergence of price and OBV + a successful 'price action' breakout in the last 3 months. Wait for another 3 months to absolutely confirm the pattern and then off you go.
Even the last two volume candles are strong (>=MA) which shows consolidation under place.
Copper = Industry (also a hedging opportunity)There is a direct correlation between the S&P 500 and copper performance and they generally move in the same direction.
Copper is much more closely aligned with global growth and demand, so if the global economy is expanding then demand for copper should increase.
In other words, if the stock markets correct or crash the price should drop (now at resistance)
If the stock markets rise more, then very simply Copper will follow.
Hedging idea :
60% Platinum buy (over it's resistance), 40% copper sell (under it's support).
Compound the winner gradually and follow the indices movement.
ps. the indices are most likely correcting, not crashing at this stage
Short copper as RSI and MACD are very high on a weekly chartCopper looks overbought after a 80 % rise since march. Time to sell?
