Copper (XCUUSD) On a Key Level! Bearish Forecast
Copper reached a peculiar zone of confluence:
we see a perfect match of a horizontal daily structure, resistance line of a rising wedge pattern and fib.levels of the last major bearish legs.
based on that the chances are high the price will retrace to the support of the wedge.
also, look for a potential bearish breakout of the wedge.
it will trigger a selling reaction and the price may go even lower.
good luck!
Copper Futures HG1!
The "Gundlach Indicator" Is Exhibiting a Familiar PatternStocks have totally decoupled from reality, but copper and gold have not. This is as pretty a chart as you'll see and the fact that it's a chart of a RATIO testifies to just how "smart" gold and copper both are. The last two uptrends have been presaged by highly symmetrical wedge patterns and if history is any guide we're only a few weeks away from another topside break.
Copper - Macro OutlookWelcome to my series of macro outlooks where I put together threads focused on long term perspectives for major asset classes. My goal is to provide you with a long term view that I update on a monthly and sometimes weekly basis so that you can have the means to make wise and calculated trades in the shorter term.
I have threads for assets that are typically viewed by investors and traders as market leaders. Having an idea where the market leaders are heading will give you a compass to make decisions in smaller cap assets that tend to follow.
I will do my best to keep these threads purely technical in nature.
Doctor Copper
Copper is a vital commodity to the economic machine. One use that comes to mind is in commercial and residential building wiring. An increase in price signals a strengthening in demand and the underlying economic activity. A decrease in price may signal a contracting economy. Keep an eye of the price of copper to see where economic activity is headed.
Enjoy!
Gap breakoutThis thing is likely shoot good. Good breakout with gap. Bullish rejection from monthly pivot.
When price breaks away the trend line with gap it rarely makes a trendline retest.
Does this mean that oil might rise? Copper and oil have had a strong positive correlation at 0.84.
THIS IS NO FINANCIAL ADVISE.
Copper (XCUUSD) Trading Plan & Potential Drop
hey guys,
pay attention to copper today!
currently, the price has reached a key structure resistance level and we have a potential opportunity for short!
pay attention to a horizontal decision range on 1H and sell in case of a bearish breakout of it (1H candle close below 2.172!
stop will be above the higher high within the channel!
target levels: 2.11 / 2.04
in case of a bullish continuation and candle close above 2.24 setups will be invalid!
please, support the idea with like and comment! thank you!