Copper Futures HG1!
HG1! - COPPER FUTURES - What to expect on DAILY/PREDICTIONI picked a random futures chart and copper seemed to have a nice setup in process. Might actually take this trade. Red circle shows closes above last move down to make our low, signaling possible trend reversal. At this point we are now in the middle of the pullback and it looks like it might make the desired higher low. This is where I would get long and take profits as it pushes to make the swing upward. Green hand drawn line is my predicted path of price action, just for fun. NOT TRADING ADVICE. TRADE SAFE.
Long Copper This is the trade setup.
You want to buy at most around the current price and have your stop loss around 10 cents or lower.
The take profits are the green lines.
Copper: Significant upside potential.Copper is on a 4H bullish leg (RSI = 62.650, MACD = 0.014, Highs/Lows = 0.0064), after finding support around 2.6000. It just crossed (marginally) above the MA50 and on similar patterns since September 18, this calls for a bullish extension at least towards 2.8400, which is our TP. Breaking above the MA200 enhances the probability for a test at the 2.95000 1D Resistance.
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LONG COPPERExpecting bounce from extremely oversold weekly and daily levels. COT and seasonality also extremely in favour of a bounce. If stop breached on a daily closing basis, be prepared to catch new daily reversal on lower levels with tight stop.
Copper: the weak hands have been shaken out.Massive extensions are not uncommon:
Weekly chart:
The indices falling would not cause the price of copper to fall,
this did not happen previous it is not true that the price is tied
to the economy as what is told. Also chinese people use copper as a
safe store for their money.
Price went down in 2008 but this is irrelevant. Went up in 2000-2007.
Giants China and India are urbanising, demand for copper long term is up up up up.
Tech needs more and more copper. No brainer. Why wouldn't the price go up?
Copper : Sell Setup Towards 2.4$EW suggest grinding towards $2.3- $2.4 of 50%-78.6% of fib level for C.
Weekly and Monthly RSI shows weakness. Confirms the larger downtrend.
Find Sell setups on lower TFs.
Good luck
Robus
Copper: +7% bullish potential.Copper is on a standard 1D bearish sequence (RSI = 39.990, MACD = -0.034, Highs/Lows = -0.0234) that has just (marginally) crossed the 2.74170 Support. With the RSI however approaching the 32.800 mark, a bullish reversal alert is triggered as the last 4 times that the price bounced near or just below this mark, Copper gained +7 to +8%. Assuming that happens now we are looking at a 2.9000 target. If it takes place lower (-3.85% lower by the previous occurrence), we expect 2.80000.
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XAUUSD being led by XCUUSD by 13 daysThere is no reason why an inverted Copper chart should look like the Gold chart, but leading by 13 days (April 21=now). But it does look like it. I have bought at market (1290) for 1335 with a tight 1280 stop. RR 4.5:1.
Very small size, as I have no other. evidence.
Green Shoots, Bronze RootsCopper prices are beginning to break down as a confluence of indicators support further decline. Within Monday's weekly note to subscribers, to wit:
But, there is a divergence between the Chinese "green" shoots and the commodity complex. Especially, if you look at mining and base metals, they do not confirm the rally in Chinese manufacturing.
Copper is continuing to consolidate - not confirming the China bump. In fact, a continuing decline in the global trade data will begin to weigh on sentiment.
Admittedly early, we still see the CNYUSD as the primary catalyst for copper going forward. If the yuan begin to weaken, copper will retest the 2016 "global synchronized recovery" uptrend at 2.62.
If we look at copper and the Chinese 10-year yield, the duo trend very well with the 20-month correlation strong:
As markets look for green shoots out of China, the 10-year yield has rallied steadfastly; but, if markets begin to doubt China's recovery, we could see yields recouple.
Currently, copper has tagged the TACVOL range bottom. Unless factors begin to change, we'd be sellers of rallies.
Copper (HG1) BuyJust my opinion on what market might currently be doing. Enter and exit at your own risk.
DISCLAIMER
Please note that this chart is an opinion based chart only. Please trade at your own risk
fcx plan. divergence from long time partner..Copper and fcx have had a long, relatively tight relationship. how long will division last?
trade deal? I feel like at some point in near future the words trade deal signed will appear in headlines.
COPPER: Double Sell Signal on 4H and 1D.Pattern: 4H Rectangle.
Signal: Bearish (Double) on the 4H Resistance and 1D Resistance.
Target: 2.9000.
XCUUSD Copper Futures H4 ChartChina GDP and Retail Sales is scheduled to release.
A Better than expected data could trigger the bullish move.
Levels As Described
Copper Buy & SellCopper is currently a sell but not long before buyers come back in. My labelled zones are only a rough idea of where i think the market may touch before turning around. Decide on your own Entry & Exit. If you do decide to enter a sell from this point, then i would put a SL around 10pips about zone A because market can always go back up to A again before coming back down to B.
DISCLAIMER
Please note that this chart is an opinion based chart only. Please trade at your own risk
Copper Sell & BuyI think any pull back in copper is a sell until we reach target D and then buyers can come in and take in up. Could go further than my TP but those are my targets for now.
DISCLAIMER
Please note that this chart is an opinion based chart only. Please trade at your own risk
COPPER Sell SignalPattern: Inverse Head and Shoulders on 1D.
Signal: Bearish as the price was rejected on the 4H Resistance.
Target: 2.89100 (above the 4H Support).
Copper for SaleShort sell if price stop below 2.95. Price target demand level 2.85 and 2.8. Stop order above 2.97
Copper is consolidating ahead of another drop Copper retested the breakdown point within a small consolidation.
Watch breakdown for another drop.
COPPER Buy Signal (Support)Pattern: Fibonacci retracement.
Signal: Bullish either now (1D support) or on the 0.382 Fibonacci.
Target: 2.96000.
