Copper MinerNice bull volume on the recent rise in share price, suggesting to greater upside. Keeping the analysis simple.
Increased bull volume
Decrease bear volume on pullback following upside move
Fib ratios align with recent levels of resistance, now to be validated as support
RSI suggests a near term cool off, potentially right into the entry targets of target 1.05 - 1.09 correlating with key fib ratios
Behind the scenes I have completed my due diligence on this copper miner.
Copper Futures HG1!
Copper: First Corrective Wave TargetIn "Copper Tempest" (see related ideas), I analyzed the macro-view on Copper. Now it's time to act.
My trade starts from 2.8462 with final target of 2.8125 (end of first corrective wave). Stop Loss set at 2.8537.
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.
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.
FCX longShort update.
Please reference my first FCX chart for my initial thoughts.
The current rally is sitting roughly at 78.6% retracement of the prior move from April 16th of 2019. As you can see we paused a little bit and consolidated after the initial move up from $8.30 (which also resulted in a pause/sideways movement). I'm looking for AT LEAST a movement to the 100% retracement at 14.51 which is currently serving as resistance from Aug-Sept double top. This level also lines up with the 2.272, 2.414, and 2.618 fib cluster extension of the prior swing high-low.
I'm looking for a small retracement of the last (second red line) movement. As you can see this movement already flagged a bit and after todays late day pump im expecting a little relief before wednesdays announcement of china trade deal.
Assuming things go okay with the signing and whatnot, I think we will at least see the 1.272 or 1.618 extension by spring/summer.
One thing to keep in mind is that FCX earnings are on Jan 23rd. Im expecting a small beat or miss. I need to refresh my memory but the prior earnings were a miss or barely beat but the FCX continued upwards on china talks and futures pumping. Earnings are turning around and production is ramping up with the opening of new deep mine in Indonesia.
What are your thoughts?
Copper (XCUUSD): Catching Bearish Wave
hey traders,
I really like copper chart :)
from a technical perspective, we have a very nice conjunction of multiple selling signals.
first of all, on a daily the market is currently standing on a strong structure resistance.
moreover, after a strong bullish rally, the market has perfectly stoped on the underlined level with rsi showing clear divergence.
in addition to that, on a daily we see a completed bearish abcd pattern.
The last thing to short the market is the confirmation on a lower timeframe!
on 4H I am focused on a bearish flag formation.
bearish breakout of it will be a perfect signal to short the market.
the initial target will be 2.75
the second target will be 2.71
stop will be above the highest point within the flag.
Copper: Complete Trading Plan | H&S vs Channel UpCopper (XCUUSD) has been trading inside a 1W Channel Up (RSI = 59.467, MACD = 0.018, ADX = 36.505, Highs/Lows = 0.0586) which touched the Higher High trend line at the end of December. Right now the price is pulling back towards the 1D MA50 (blue trend line) to price a Higher Low.
As long as 2.8500 holds, which is the 1M Symmetrical Resistance, then the Channel Up will most likely price that Higher Low just below the 1D MA50 at 2.7000. With Copper trading on a Head and Shoulders since July 2018, if the Channel Up Higher Low trend line breaks, there are greater chances to re-test the neckline's Support within 2.5500 - 2.5270.
On the other hand, if the 2.8500 Symmetrical Resistance breaks, then that long term Head and Shoulders pattern gets invalidated and we will focus purely on the 1D Channel Up which should set eyes on the 2.9900 Resistance of the Head. In that case (if 2.8500 breaks) we will be switching to a buy with 2.9500 as the Target.
*Note at this point that the (otherwise bullish) Golden Cross formation on the 1D chart has been a bearish signal on the last 2 occasions for Copper since June 2018. On December 27th, 2019 we just formed a new Golden Cross.
See how the Head and Shoulders has provided an excellent buy signal last August:
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Long-Term Prospects of CopperCopper, symbol, HG, price action is giving us an early warning of a Bear Market with price trading above the 50 week ema, which is below both the 200 and 800 week emas, with the 200 still above the 800. Price is currently above the 9/13/30/50 week emas, so it currently is in a rally, but the long term emas are mostly flat, telling us we are in a accumulation/distribution phase. The long term candle sticks tell us to have caution here, with long upper whicks and the dark cloud for this week. Elliott Wave tells us we should be expecting the end of this year and a half long triangle with the e-wave putting in a top.
On the even longer-term perspective, this market is clearly targeting 1.4, where I expect a multi-year bounce. The bounce will proceed prices below 1.25, so let that sink in. Put that out of your mind for Today though, the thing you should be noticing here is how price is drawn to the equilibrium point of prior consolidations. That gives us a good idea of where price will be drawn to as this correction continues.
The Commodity is in a Bear Market Rally with price trading above the 50 day ema, though the 50 is above the 200, yet still below the 800 day emas. The 50 day ema is currently up trending, though price just dropped down through the 13 ema and tested the 30 ema. We’ve had three pushes up from the (d) – wave low and it looks like at peak formation for the (e) – wave is starting to form. Would expect to see a rally back up to 2.84 next week along with a stop hunt high before a strong sell-off gets under way.
The Commodity is in a Correction of a Bull Market on the 4 hour, with price below the 50 ema, which is above the 200 ema, which is above the 800 ema. Price traded down to just above the 200 ema this week, will probably give it another test early next week before aggressively bouncing back up to the highs in order to finish out the peak formation later in the week.
This is my Copper look ahead for my own trading purposes. COMMODITIES trading involves risk. Feel free to comment, but trade off of this post at your own peril.
This is my Copper look ahead for my own trading purposes. COMMODITIES trading involves risk. Feel free to comment, but trade off of this post at your own peril.
ridethepig | Copper Driving China Capital Flows As you can see the strong relationship Copper has with Chinese equities, you will notice what has been the case for these final stages of the economic cycle, metals have been moving miles ahead of equities.
We got the floor set in Copper as widely expected all year:
Any dips now look competitive:
Copper has been allowed to outperform Gold:
Bulls need to reclaim the highs in Chinese Equities after the -10% leg:
A weaker USD will help reinstate a bullish outlook for Copper, support clearly seen at $2.715, then $2.675 - which I expect to hold.
Thanks for keeping the support coming with likes and as usual jump into the comments with your charts and views to open the conversation up for all!
I see a good opportunity on CopperThis metal is easy.
The price of copper is not only driven by industries / global gdp anymore.
Well still by industries in a way but now there is a new thing to consider: the climate change pseudo science.
As a pseudo science, we cannot go and say "this is how it is therefore this will be the answer", and once again, finance drifts away from "real science" in this way:
Wind power demands alot of copper, I don't get why they don't look more into biofuels and hydroplants maybe one day they will and demand will drop but for now anytime the herd gets all excited and starts being conviced minuscule amounts of CO2 will magically make temperatures go up 10°C and this will make antartica melt (-40°C with most of the ice much colder than this) or better forget about elementary school science and think that the polar ice cap will make sea level rise, or other kind of ignorant hysteria, demand will go up in the short term... We can probably predict short term price spikes when there is a worldwide hysteria moment and plans to build alot of "green" power generators.
Could be easy money for years to come, possibly... And few people are interested in copper it does not sound new so the duning kruger herd won't get very excited by it, could be an easy free money niche for several decades. Mass delusions of the past did not vanish in a few years, Galileo died in a world that was convinced earth was flat (how logical) and wasn't even buried in a mausoleum as was planned because "heresy".
COP25 climate talks failed today... Looks like a catalyst for price to go down or do I have this wrong?, plus price is at resistance and doing some sort of little rising wedge
The price gapped up because it's a ponzi or because market participants are idiots, or maybe it will go up for whatever reason I don't know.
Reminds me of that september natgas & oil gap after aramco attack.
Are you in Copper yet ?63. Unless you are tracking a particular product , forex, futures, commodities,etc for that matter,
it may be hard to monitor so many charts at the same time.
Timing the market , i.e. knowing when to get in at the lowest and selling at the maximum profits has remain much of an illusive art of trading to many of us. Of course, some traders are excellent in spotting while others like me tend to get it occasionally.
Over the years, I have discovered, it is more important to buy a commodity ,stock, futures, forex, etc that is trending than being ecstatic on catching the bottom. There are charts that can stay at the bottom for many moons before it does anything, if it does. So, do yourself a favour and not be so hard on yourself if you are not able to. Leave that to others, no big deal.
Looking at this chart, we can see once again there is support and buying up at 2.498 to 2.5605. Of course, if you had caught it at this price range, then you are in profits now. Congrats! But , like me, if you have not, then the 2nd buying opportunity may be just round the corner, even before Christmas.
The price action has closed above 2.7545 but has met some resistance at the bearish trend line at 2.763. Let's wait for a few more days to see how it performs. Would there be a false breakout, forcing the price to goes beneath the trend line once more ? Or would it go as I indicate on the chart ?
Other than chart analysis, I get some confidence boosters from these articles :
www.mining.com
economictimes.indiatimes.com
So without going too in-depth, we can see that if China is the biggest buyer of Copper , then we can infer that the demand of copper would continue in the next few years for China. They need it for their infrastructure projects and storage is dwindling in their warehouse. Supply side at Chile is also affected due to heavy rain this year.
Do the math - high demand, restrained supply, price has to go UP.
Let's see if my prediction is right in a few months time. Trade safely
FCX timing and rhythm - Is it copper time? here's something im sure we've all been watching.. looks pretty flaggy. IF the trade stuff is settling out, and markets general attitude stays upbeat. I think this looks real nice.
Of course this has a lot of strings attached.
good luck!
[COPPER] POTENTIAL BULLISH SETUP (part. 1)Good morning Traders!
Copper could develop some interesting swing in short to medium term, having said that, if the price action will confirms the first bullish rally, it is possible to try to take a long position on pullback as shown on the daily chart. With this in mind, even if the TARGET seems very interesting from the BUY AREA OPPORTUNITY, the Money Management is not very good (we will have a R/R ratio <1: 3), so it should be correct to use a reduced size for this setup. During the next sessions we will continue to follow the copper, because at the moment the levels shown on the chart are only indicative.
If you think our analyzes are useful, support us with a simple "Like", thank you and trade with care!
Cheers.
fcx with another flag.. but ...what about the tariffs?fcx buyers are very excited for the future! has been a good run. but, seems we never really got past phase 0 on the trade deal.. will the tariffs start to become bullish? Harder us pushes maybe quicker we find a solution.. agree to disagree?
Taking a bit off table.. keeping close eye on copper.. who knows how high it may run. has been depressed for so long.. 4? 5? 10?! haha
GOOD LUCK!
Lets see where Copper wants to run- Because well, it wants to.Spoke with someone last night who emphasized the uptick in security at construction sites more or less specifically for people stealing COPPER. I am going to COP some COPPER. Don't do what I do. This is not financial advice. I do not know how to trade or chart, and this idea is just art : )
- Namnaste'
Happy Monday fam
P.S. Trade Futures? Send me a PM. Opening the doors to my small Discord today. If you are a serious trader- would love you to check out our community!
COPPER Buy SignalPattern: Channel Up on 1D.
Signal: Bullish as long as the 2.6000 level holds (Higher Low lim).
Target: 2.8000 (1W Resistance).
Copper Futures (HG1) long.All description on the chart.
Please, don't forget to like and follow.
Thank you.
Copper: Short opportunity within an Ascending Triangle.Copper (XCUUSD) is trading within a 1D Ascending Triangle (RSI = 56.277, MACD = 0.016, Highs/Lows = 0.0000). Last week it was rejected on the 2.7000 1D Resistance and that should make it test at least the 1D MA50 (blue line). In our opinion since the RSI has been consolidating in the past 2 months, the potential pull back can make a Higher Low on the 1D Ascending Triangle so our Target is lower at 2.57000.
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bull flag 2 - return to resistance Not sure what oct 24 was about. . fcx bounced back. Appears to be a pretty good reversal. Hard saying in current light.. Maybe? 200 day seems right.
fcx putting up a bull flag? Copper making move
ER in rear view
Grasberg pit on track
Things are looking ok here. Just need to hop over that resistance line... : )
What do ya'll think?
Time to go Long with stop below the "circle" areaSimilar to last time the HG touch below the 2.55 area: trade some time below, get momentum and break above, trending higher. Looks similar right now. The trade setup is good because the stop is clear.
FCX and the looming recession?pure play copper not exactly best idea for global recession positioning.. but, who knows how this thing is going to go down. Copper is so important, it cant be left behind for long? Maybe it can? But accumulation at least shows some promise.. Should be fun next few months! Please let me know your thoughts.. FCX performance lately is scary. Big money know some details the little guys arent privy to just yet?
LONG FCXExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
