Copper Futures HG1!
Short Copper 10012018- Structure break down
- 2618 pattern
- Trending Dollar
:) Good Luck!
TP1 2.7685
TP2 2.7405
SL 2.8140
Trading inside a Rectangle. Short.Copper is trading sideways for more than a month now within a 2.5400 - 2.7350 Rectangle on 1D (RSI = 56.012, MACD = 0.000) and the High Volatility (ATR = 0.0544) ensures the preservation of this neutral action. As seen the price has just been rejected on the Resistance, so we are now short aiming at 2.565.
Copper: Trade war fatigue and 2-week high is bullishThe news has been bad around China and the trade war- but perhaps some relief is due as fatigue sets in
Copper has broken out of a triangle base
Scenario A) Broken trend line provides support on a pullback for bigger move to 2.86
Scenario B) Old highs at 2.75 hold and price drops back into its range
Dr Copper - Long Term Trend remain bearishDoctor Copper, The leading indicator of economic cycle remain bearish see, declining copper prices may indicate sluggish demand and an imminent economic slowdown (Investopedia)
In the chart, weekly chart seen copper price form double top in 50% retracement level. As the elliotician know, price failed to break 61.8% and reverse suggesting the next trend will follow the previous impulsive direction (Down).
The next target at 2.293 (refer to right chart)
www.investopedia.com
HBM - Mining stock with good entry to short or longHudson Bay Minerals is 50% off January high and mining not favorite for many but it's
in small-cap under $10 stocks that can give good double digits this year.
Turning up off baseline entry as copper futures are also turning around.
IVPAF - Ivanhoe MinesSmall cap Mining Stock to own when VIX jumps 5% like yesterday. Entry 1.79
Development and recovery of precious and EV specialty metals: Nickel, Copper, Gold, Palladium, Zinc, Germanium, and Rhodium.
09042018 Copper LongCopper now at strong support, Dollar at it's major resistance.
We can expect big bounce to CD-382, 618
CSX:IVH OTC:IVPAF Ivanhoe MinesSmall-cap: IVH or OTC: IVPAF showing potential entry. Shown here is 2h chart.
* Fib retracement on 1D indicates entry at near 1.50-1.54 and currently at 1.57.
* CCI coming up to entry zone
* Falling wedge coming to Fib resistance zone .768 (1.50-1.54)
* Relative Strength nearing breakout, or if falls below 1.48 review position
* Copper prices were strong in 2017 and weakened in 2018. investingnews.com
* Nickel is byproduct of copper mining and likely behind deal with CITIC. investingnews.com
investingnews.com
* Zinc also potential driving this one back up.
* IVH chart from Investing News Network investingnews.com
* Active projects in CAN and South Africa
Hit copy, make mine and change to 1D and 1W and add Fib retracement.
This is mining small-cap/micro-cap stock, so risk beware and make own conclusions.
Target hit. Near a Lower High confirmation. Short.Copper is trading within a 1D Channel Down (RSI = 43.155, MACD = -0.058, Highs/Lows = -0.0015, B/BP = -0.0380) after reaching the 2.54472 mark. It is now near a new Lower High = 2.69388, which if it holds, will test the 2nd 1W support = 2.45945, which is our target for the new short on XCUUSD. If the Lower High is crossed, the we will get a temporary rise to 2.85479.
COMEX:HG1 Copper FuturesCopper price high from 2017 decline nearing reversal in futures.
Not advice, come to own conslusions.
Expect Copper to Reach for New Highs!!!As previously discussed in other post I expected Copper to correct quite a bit. I was expecting the 2.44-2.60 area because of many confluences. However, we have completed an ending diagonal pattern that pushed to 2.86. Now we have come down to my expected support area based on fractals and fib levels, which we are now holding. Also, if you look at the USDOLLAR we have hit a significant topping point. Also, this can be seen as we have lots of sideways action in AUDUSD at the $0.73 mark. Also, expect to Gold to follow suite with new highs in the medium term. This is a great time to get long based on probabilities and risk/reward.
Short COPPER like NATGASUSD Refer to my NG1 Idea. Check my NATGASUSD Idea to understand my reasons to SHORT Copper. It is the same set up with the exact same entry and S/L. No kidding.
Trade Safe!!
Shorting Copper is in play: A testament to China troubleAny rally/retest as high as the low 3 range remains a short on a long term scale (weekly).
Copper: Trade for Bearish Continuation of 1H Bearish Impulse 4H AO cross has not happened yet and there is bar divergence on that time frame so this must be kept in mind. I will be looking to move to breakeven quickly and perhaps even take profit at the target but that has not been decided yet. The overall trend is bearish but this may be a short term trade before the larger correction and final 4H continuation trade. Stay patient.
So far Long. But bearish reversal if 2.6938 crossed.Copper is on important crossroads. It has so far rebounded on the 1st 1W support at 2.69388. This is a medium term bullish signal towards 2.85479 as 1D is already easing the previous oversold MACD = -0.081, Highs/Lows = -0.0468, B/BP = -0.1300. 4H is already on neutral STOCH, ADX, Williams, Highs/Lows, steady enough to sustain this bullish counter-leg. The current trade is long, TP = 2.85479 but if 2.69388 breaks, then we'll take a short towards the 2nd 1W support (2.45945) with TP = 2.45945.
Copper bullish divergence, time for some recovery. Going long. This level seems like it has some kind of importance.
Got this EW count, makes sense to me:
We retraced 0.382 first high TF wave, then right now we are on 0.618 next wave...
Major level imo...
COMMODITY CURVES | Copper Curve vis Copper ContinuousThis is the HG1!-HG2! with the continuous copper front month overlaid in white.
Just playing with the +/- spread charts and curves to get better at this platform.
Copper. Multi-year correction is over. Target 1.94Copper was doing good during last two years as it rallied from sub-2 to above-3 levels.
But the structure is corrective so the wave C finished the correction being equal to wave A by size.
Then we saw a breakdown below the white support this March.
After that there was a healthy pullback, which was rather menacing as it almost broke the earlier top but failed just one cent ahead
keeping the whole structure intact.
So the support at the 2.94 level is crucial as it already rejected the drop once before.
Watch it to be broken before further meltdown could occur in the copper market.
The minimum target is at the previous major low at the 1.94.
What is sad about it - copper means economy, weak copper means weak economy...again?
Bullish on Dr.Copper HG1!Very strong bullish indication in copper HG1! on monhly chart. Very strong support on 2.99-3.00 . After Kumo breakout in recent months with strongmomentum developing and attacking strong resistance level 3.25 -3.35. In short term good opportunity to jump in short term trades in this range 2.98 -3.30 because in daily its choppy market
COPPER - Is Time for a Deeper Correction?Watch the price action in Copper if breaks down of 3.0285 level.
Copper Elliott Wave View: Next Extension Higher May Have StartedHello Traders,
In this analysis, we will have a look at the metal Copper in the 1 hour chart.
Short-term Elliott Wave view suggests that the pullback to 3.0101 on 5/30/2018 ended blue wave (2). The internals of blue wave (2) unfolded as an Elliott Wave double three structure where red wave W ended at 3.0195 and red wave X ended at 3.1485 high and the decline to 3.0101 low in wave Y of (2).
Above from there, the metal has started the next extension higher in blue wave (3). The rally looks to unfolding as an Elliott Wave impulse structure with extension in red wave 3 higher.
Up from 3.0101 low, the rally to 3.093 high ended in red wave 1. Afterwards, the pullback to 3.046 low ended in red wave 2 and red wave 3 ended at the peak of 3.3165. Red wave 4 pullback can already ended at 3.2585 low and can now extend higher in red wave 5.
As long as Copper stays below red wave 3 peak, a double correction lower in wave 4 can't be ruled out before the metal extends higher again in red wave 5 to complete the 5 waves impulse structure from 3.0101 low within blue wave (3) higher. We don’t like selling the metal and like to stay on the sidelines for now. However, the right side remains to the upside.
