Get started

Copper Futures HG1!

Dr Copper ~ Snapshot TA / Contraction x Expansion = InflectionIt ain't easy being DR CAPITALCOM:COPPER Peaked in March 2022, only to crash -38% & bottomed-out in July 2022. Since then it has fluctuated between Contraction (will Global Economy collapse?) versus Expansion (will Global Economy recover?), while also contending with outlook of China's Economy, yeesh lol. Copper's price action has also been compressing, as descending trend-line squeezes current Trading Range against ascending Parallel Channel. This suggests momentum will eventually need to "pop" in either direction...but it could also continue trading sideways a little longer while more data is disseminated by Market Makers to make a confident decision, TBC. Tick tock, time is running out for the Doctor.. Boost/Follow appreciated, cheers :) AMEX:COPX AMEX:CPER COMEX:HG1! COMEX:HG2!
CAPITALCOM:COPPER
by BlueHatInvestor
Copper: A bit lower 🪜The copper price is back in our blue target zone and dedicates itself to extending the low of its blue wave (c). After this fall, we expect significant rises in the context of the magenta wave (y) above the resistance at $4.19. In the short term, speculative opportunities are thus given here on the long side with the active blue target zone. Subsequently, however, new downward movements to our green target zone will be interesting for long-term investors.
COMEX:HG1!
by MarketIntel
COPPER Two year Triangle may finally break.Copper (XCUUSD) is trading within a Triangle pattern since the March 07 2022 High. The price is currently above the 1D MA200 (orange trend-line), supported twice by the 1D MA50 (blue trend-line). The 1D RSI shows that we may be replicating the July 15 - September 20 2022 fractal. If the price breaks above the top (Lower Highs trend-line) of the Triangle, then based on the fractal should target initially the 1.5 Fibonacci extension level at 4.1800. As long as it closes below the Lower Highs, we will sell and target the 3.6870 Support. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
COMEX:HG1!
by TradingShot
1
Copper Conundrum: Diverging Indicators Point to More DownsideThe last time we looked at copper was last October, and the trade played out nicely in our favor. Much has happened since then and we think another opportunity lies on the horizon now. Revisiting the same analysis now we observe the following… China, being the largest copper buyer, its currency pair CNHUSD traditionally shares a high correlation with copper. However, a divergence has emerged since May 2023. Moreover, copper's wide usage in manufacturing - from batteries to appliances and industrial machinery - makes China's import and export figures a good indicator of global economic health. These figures currently paint a gloomy picture, with YOY Exports & Imports pointing lower. Again, we notice a divergence between copper prices and these economic numbers. The Gold/Copper ratio, usually confined within a certain range, has recently tried to break higher. Despite facing resistance, the movement may still have momentum. Previous breaks upward have proven to be quite rapid. One way this could play out is if copper trades lower, the Gold/Copper ratio tends to trend higher. From a price action perspective, copper seems to be breaking out from a seven-month bull flag, inching towards the 4.00 price level. However, the significant resistance at 4.00 casts doubts on the breakout's success. Further fuelling this doubt is the emergence of a Simple Moving Average (SMA) death cross on the daily timeframe. On a shorter timeframe, the Relative Strength Index (RSI) suggests slight overselling, while the overall price structure is encapsulated in a symmetrical triangle. Summing up, we foresee short-term downside for copper due to diverging macro factors from copper’s price and a downward trend in the dollar. Moreover, price action suggests overbought levels and looming resistance. CME has the Full-sized Copper Contract or the Micro Copper Futures which we can use to express this view, taking a short position at the current level of 3.904, stop loss at 4.10 and take profit at 3.55 the next level of support and subsequently 3.30 if the symmetrical triangle breakout happens. Each $0.0005 price move in copper per pound is equal to $1.25 for the micro copper futures and $12.50 for the full-sized copper futures. The charts above were generated using CME’s Real-Time data available on TradingView. Inspirante Trading Solutions is subscribed to both TradingView Premium and CME Real-time Market Data which allows us to identify trading set-ups in real-time and express our market opinions. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com Disclaimer: The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios. A full version of the disclaimer is available in our profile description. Reference: www.cmegroup.com www.cmegroup.com www.cmegroup.com
COMEX:HG1!Short
by inspirante
HG1! Is Bullish! Long! Please, check our technical outlook for HG1!. Time Frame: 2h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is on a crucial zone of demand 3.729. The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 3.771 level. P.S Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback. Like and subscribe and comment my ideas if you enjoy them!
COMEX:HG1!Long
by SignalProvider
7
HG1! Massive Long! BUY! My dear subscribers , I analysed this chart on HG1!, and concluded the following: The instrument tests an important psychological level 3.7005 Bias - Bullish Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation. Goal - 3.7740 My Stop Loss - 3.6580 About Used Indicators: For more efficient signals, super-trend is used in combination with other indicators like Pivot Points. ——————————— WISH YOU ALL LUCK
COMEX:HG1!Long
by AnabelSignals
17
COPPER: Best sell signal on a 1 month basis.Copper hit the top of the Channel Down pattern that started in mid January and got rejected straight away. The 1D time frame already turned neutral (RSI = 51.361, MACD = 0.023, ADX = 28.747) and if the price crosses under the 1D MA50 and MA200, it will give a confirmed sell continuation signal. First target is the S1 (TP1 = 3.5525) and second near the S2 (TP2 = 3.3750). A 1D RSI Double Bottom inside its S1 support, will be the first buy signal. ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
COMEX:HG1!Short
by InvestingScope
2
HG1! The Target Is DOWN! SELL! My dear followers , I analysed this chart on HG1!, and concluded the following: The asset is approaching an important pivot point 3.8850 Bias - Bearish Technical Indicators: Supper Trend generates a clear short signal while Pivot Point HL is currently determining the overall Bearish trend of the market. Target - 3.8115 About Used Indicators: On the subsequent day, trading above the pivot point is thought to indicate ongoing bullish sentiment, while trading below the pivot point indicates bearish sentiment. ——————————— WISH YOU ALL LUCK
COMEX:HG1!Short
by AnabelSignals
13
HG1! One word - CLEAN!COMEX:HG1! One word - CLEAN! What a beautiful chart for copper! Technically it's ever so clean, when it comes to set ups like this - Be careful of fake breaks. Pattern - Triangle/Pennant Highs: 4.2100 Lows: 3.8255 A break of highs I expect: 4.3550 & 4.5570. However, a break of the lows I expect: 3.6740 & 3.5040 and perhaps lower! Currently, as long as we within this channel and within these ranges... until break either side! Have a great week ahead & it's a long weekend for some of us! 🔆 Trade Journal 🔆
COMEX:HG1!
by Trade_Journal
Copper: Like a Lead Weight ⚖️No worries – we didn’t confuse our metals! However, like a lead weight, copper should continue to sink further, heading for the green zone between $3.08 and $2.59 in the south. Already the price has broken free from the recent sidewards movement and has developed a new low, showing more and more downwards momentum. Once copper has arrived in the green zone, it should complete wave 2 in green, marking a distinctive low, which should then introduce a strong upwards movement.
COMEX:HG1!
by MarketIntel
Will Copper find sellers at previous support?XCUUSD - 24he expiry - We look to Sell at 3.828 (stop at 3.868) Our bespoke support of 3.820 has been clearly broken. Our short term bias remains negative. Previous support, now becomes resistance at 3.820. Preferred trade is to sell into rallies. We look for a temporary move higher. A lower correction is expected. Our profit targets will be 3.728 and 3.708 Resistance: 3.744 / 3.770 / 3.820 Support: 3.700 / 3.671 / 3.640 Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Signal Centre’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Signal Centre.
COMEX:HG1!Short
by VantageMarkets
COPPER: 4month Support on the 1D MA200. Bullish.Copper is trading inside a Channel Down pattern that is approaching the bottom of a Rising Megaphone pattern. The price is almost neutral (RSI = 44.491, MACD = -0.036, ADX = 22.406), stuck between the 1D MA50 and 1D MA200. As the RSI is on the S1 Zone as well, the conditions for a longterm buy are pilling up. First we target the Channel Down top (TP = 4.1000) and if we get a daily closing over it, continue buying to R1 (TP = 4.3500). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
COMEX:HG1!Long
by InvestingScope
9
Copper :Short Term DOWN/MID TERM LONGMID TERM LONG The price of copper has made some headway after falling to its lowest level since November 2020 on 15 July 2022. The metal started 2023 at $3.84 and has risen 6.7% to trade at around $4.10 as of the time of writing on 14 April, although base metal prices have retreated significantly since the record highs seen in March last year. Metals markets remain highly volatile in the face of macroeconomic pressures. The price of copper came under particular pressure last year due to fears of a global recession, weaker demand from Chinese manufacturing giants and China’s zero-Covid policy, a higher US dollar, and a mass sell-off on the London Metal Exchange (LME). Over the closing months of 2022, however, the metal began to recover as investors once again flocked to cyclical metals in response to a lower USD and rising prospects for a reopening in China. Copper retreats from record highs The price trend of copper was choppy at the start of the year, as pandemic-related lockdowns across several regions in China raised concerns about a slowdown in economic growth just as industrial production had ramped up following the Lunar New Year holiday. Manufacturing plants in Changchun suspended operations and construction work was halted in Shanghai, reducing consumption in the world’s largest copper market. At the end of February, traders weighed the impact of the Russia-Ukraine conflict on commodities and stockpiled industrial metals. On rising demand and tightening supply, prices for copper – as well as aluminium, tin and zinc – reached record highs in March. The COMEX copper price chart shows that the metal climbed by 130% from the March 2020 low at the start of Covid-19 lockdowns to trade up to HKEX:5 a pound in early March 2022. In addition to the recovery in demand after the pandemic, there are several long-term demand trends that have been supportive to copper. The transition to clean energy requires larger quantities of copper, which is used for wiring in electric vehicles (EVs) and solar panels. Higher crude oil and gas prices are raising operational costs for copper producers, but also accelerating the energy transition and in turn increasing copper demand. The pandemic also saw a boom in demand for manufactured goods, including electronics and household appliances, as consumers turned to home entertainment and home improvement during lockdowns. What’s more, while demand has climbed, output from copper mines has not kept pace, tightening the supply balance. Aggressive interest rate rises by central banks, including the US Federal Reserve (Fed), to tackle 40-year-high inflation have increased concerns among traders that the global economy could be facing a hard landing. At its 31 January – 1 February policy meeting, the Fed opted to moderate the pace of rate hikes, lifting its benchmark overnight interest rate by a quarter of a percentage point to the 4.50%-4.75% range. Goldman Sachs and Bank of America recently said they expect the US Federal Reserve to raise interest rates three more times this year, lifting their estimates after data pointed to persistent inflation and a resilient labor market. "In light of the stronger growth and firmer inflation news, we are adding a 25bp (basis points) rate hike in June to our Fed forecast, for a peak funds rate of 5.25%-5.5%," Goldman Sachs economists led by Jan Hatzius said in a note dated Thursday. The Caixin Manufacturing Purchasing Managers’ Index (PMI) for China edged up to to 49.2 in January 2023 from a three-month low of 49.0 in December, coming in below market forecasts of 49.5. However, the reading marked the sixth straight month of declining factory activity, amid sluggish operations after an abrupt shift in COVID policy. Output fell the least in 5 months while a fall in new orders eased. Buying levels dropped at the slowest pace in 3 months; while foreign demand remained weak, falling for the sixth month. “The pandemic continued to take a toll on the economy in January,” said Dr Wang Zhe, an economist at Caixin Insight Group. “Supply and demand weakened, overseas demand was sluggish, employment declined, and logistics hadn’t fully recovered, while the quantity of purchases shrank, inventories dropped, and manufacturers faced growing pressure on profitability. But optimism in the sector continued to improve as businesses expected a post-Covid economic recovery.” Zhe added: "Since Covid controls were optimized at the end of 2022, China has seen a surge in Covid infections. According to the Chinese Center for Disease Control and Prevention, the numbers of fever clinic visits nationwide and people hospitalized with Covid peaked in late December and early January, respectively, and have declined since then." "After being hit by the latest wave of Covid infections, the primary focus of economic work should be on accelerating economic recovery and promoting normalized production and social orders. Improving expectations, restoring confidence, increasing income, expanding consumption, and stimulating domestic demand will be among the priorities. There is still uncertainty in how the pandemic will develop, so full preparation should be made to deal with the next wave of the virus. China will still need to effectively coordinate pandemic containment with economic and social development." In the most recent Caixin China General Manufacturing PMI press release, the report highlighted the impact of Covid restrictions on the manufacturing sector, stressing that market optimism was at it highest in close to two years: "The return to more normal business operations, and hopes that the economy and new business will rebound, helped to lift business confidence at the start of the year. Notably, the degree of optimism was the highest recorded since April 2021." In the latest copper news, LME on-warrant copper stocks have fallen the most since 8 December, according to data from the exchange cited by ING Group's Warren Patterson and Ewa Manthey. On-warrant stockpiles fell by 7.5% to 51,800 tonnes, with declines coming from warehouses in Germany and the Netherlands. First Quantum will suspend copper ore processing at its Panama mine on 23 February, according to a report from Reuters, due to limited storage capacity at the site. The Maritime Authority of Panama banned loading copper at Cobre Panama’s port over a certification issue in December last year. The mine accounts for 1.5% of global copper production. Investors are continuing to monitor the extent of improved Chinese purchasing after the country’s economic reopening, as new home sales grew for a third straight week in 16 major cities. Industrial demand is also expected to pick up as the government is set to announce further stimulus measures at its National People’s Congress in March. On the supply side, a series of production and export disruptions by major producers in South and Central America compounded concerns about low inventories in the US and Europe, adding to worries that copper markets could be heading into a severe deficit. The metal was trading at around $4.15 per pound as of 21 February 2023, down from its record high of $4.27 on 26 January and tracking the increase in other base metals amid persistent supply concerns and strong demand expectations. It is also worth noting the market remains well above the March 2020 low of $2.17. The copper price history shows the market has been trending higher since 2018, turning around an extended decline that started in 2010. What is the long-term copper outlook? Do analysts expect prices to rise or fall? We look at some of the latest copper price forecasts and analysis below. Copper price forecast: Should you buy, hold or sell? On 21 February 2022, analysis of copper on the Comex exchange in the US by brokerage Zaner was hesitant to show a bullish forecast for the short-term price trend of copper: “Despite a risk off vibe in financial and many physical commodities markets this morning, the copper market has extended last week's sharp recovery move and nearly tested the February high. While the COT report has been suspended due to hacking, the last spec positioning report showed a relatively low net long with the market currently sitting $0.05 below the level where that positioning was last measured. Apparently, the copper trade is unconcerned about the buildup of Chinese domestic physical supply and has also seen signs that China continues to utilize scrap copper to produce cathode rods. In fact, Bloomberg overnight indicated that domestic copper stocks inside China added 4500 metric tons over the weekend. However, the current copper trade is willing to discount the 2023 trend of higher Shanghai copper stocks and even higher regional copper inventories in China." "Initially March copper has found resistance at $4.20, but the market from last week's lows has gained $0.22 and has managed those gains in the face of distinct supply building inside China. If it were not for the risk off sentiment and looming rate hike threats from the US, we would be more upbeat toward near-term copper price action. Nonetheless, the strength of the market looks to lift prices above $4.20 and consolidate with resistance seen at $4.30." Capital.com analyst Piero Cingari highlighted the metal’s price dependence on the situation in China in his copper price outlook for 2023: “Copper’s chances of hitting the $4.00 zone and shattering it increase the sooner China announces an economic openness. $4.62 might be an intriguing bullish target for the first half of 2023, as it would represent a 78.6% retracement of the range of 2022. “If the scenario doesn’t play out as expected and copper retraces to the downside, the $3.50–$3.58 support area, if reached, may likely reinstate bull buying action on dips. Copper traded at these levels when Chinese authorities first announced efforts to ease Covid restrictions in November." “A fall to $3.50 or below would signal a complete reversal of Chinese authorities’ attempts to unlock the economy and a broader dollar surge on the basis of fresh hawkish fears from the Fed, and thus a retest of such levels seems to have fewer probabilities at this time.” In a comment to Mining.com, independent consultant Robin Bhar said: “There’s high-level data showing that things are beginning to stir in China, but when it comes to infrastructure and construction, it will take a bit more time. There’s good dip buying around to support the underside. People are taking the opportunity to build longs, whether tactically as we go into Q2 or strategically because of the green energy transition.” Saxo Bank Head of Commodity Strategy Ole Hansen recently told CNBC that industrial metals such as copper, aluminum and lithium would undoubtedly benefit from the “enormous political capital” being invested in achieving the “green transformation.” “The new geopolitical environment will mean a massive boost for the European defence industry which should see double-digit growth rates close to 20 percent per year over the next economic cycle as the European continent doubles its military spending in percentage of GDP." Hansen added that the metal's strong start to the year – copper futures have gained close to 10% year-to-date – are due to “technical and speculative traders frontrunning an expected pickup in demand from China in the coming months”. “Once the initial rally is over, the hard work begins to support those gains, with an underlying rise in physical demand needed to sustain the rally, not least considering the prospect of increased supply in 2023 as several projects go live. “Overall we see copper settle into a $3.75 to $4.75 range during the coming months before eventually breaking higher to reach a new record sometime during the second half.” Analysis by Trading Economics also leaned towards the bearish side on the future price, expecting copper to trade at $3.96 a pound by the end of the current quarter and $3.70 in 12 months’ time. Algorithm-based forecasting site Wallet Investor was more positive regarding the longer-term market outlook, predicting the price could rise over the coming years. The website’s copper price forecast for 2023 estimated that the price could reach $4.162 by the end of the year, while its copper price forecast for 2025 suggested a copper price target of $4.985. On 14 March 2023, analysts at Fitch Solutions revised up their forecasts, suggesting copper could average HKEX:8 ,800 a tonne in 2023 and HKEX:8 ,000 in 2024. “Our increased copper assumptions for 2023-2025 reflect our expectation of a tight balance in the market. China’s re-opening will support growing short-term demand as China accounts for 55% of global refined copper consumption. Medium- and long-term demand for copper is supported by the energy transition. Still, mine underperformance in Chile, political protests in Peru and recent issues in the smelting sector may constrain copper supply.” they said. Analysts at Canada’s TD Securities see the potential for further downside, writing in a copper price analysis: “Timing a market squeeze is an art, particularly amid poor liquidity conditions. Under the crushing weight of a collapse in commodity demand, copper prices have slashed through every support level.” In its October 2022 commodities forecast, the World Bank expected prices to decline over the next few years, from £8,700 a tonne in 2022 to HKEX:7 ,300 in 2023 and HKEX:7 ,361 in 2024. Citi previously predicted in its copper price forecast for 2030 that the metal could trade at HKEX:10 ,756 a tonne by the end of the decade, with a bull case of HKEX:14 ,341 and a bear case of HKEX:8 ,963. When considering any market predictions, it’s important to keep in mind that commodity prices are highly volatile, making it difficult to accurately predict where prices will be at any given time in the future. You should always do your own research. Remember that past performance is no guarantee of future returns, and never invest any money that you cannot afford to lose.
CAPITALCOM:COPPERLong
by DaveBrascoFX
GOLD, SILVER, COPPER. Is the latter leading the way?On this 1D chart we see Gold (XAUUSD) against Silver (XAGUSD) and Copper (HG1!) displayed by the orange, blue and black trend-lines respectively. There is a lot of worrying lately with Gold's pull-back since the mid-April High. Even though Gold and Silver have made Higher Highs, Copper has been declining since since its late January High. On this chart we see that Copper has been a leading indicator to the other two in the past 2 years. When it started rising earlier, the other two followed shortly after. Similarly when is started falling and the others lagged, they followed suit. As mentioned, Copper has started falling in the past 4 months while the other two lag and made Higher Highs. Does this mean we are about to see Gold and Silver start a strong decline? ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
FX_IDC:XAUUSD
by TradingShot
3
copper longBuy: 4.730 or lower Stop: 4.550 Notes: maybe copper will catch up to other metals The model: The Ingenuity Trading Model is a Geometric Markov Model with specific inputs related to Price, Time, Volume , and Volatility. The model attempts to predict local minimums and maximums in price on a daily and weekly basis. A fancy way of saying a trading system that detects specific patterns in price, time, volume, and volatility and indicates whether to buy or sell. On winning trades after 1 day take at least ⅓ of the position off and move stop to breakeven
COMEX:HG1!Long
by IngenuityTrading
CPER see brrrrLooking at the weekly chart with 200MA for CPER. I'm a fan of owning physical metals but CPER is a nice way for people to dabble in copper without actually getting bullion. The 200MA is now coinciding with the lower boll band. On a weekly chart I'd expect this to serve as rock solid support. I've mapped out the trajectory of the 200MA if it continues to uptrend like it has, and its represented as the bottom line of the white parallel channel. Price action around the green rectangle should present a great entrance opportunity, with a target to exit at the top of the parallel channel. Fundamentally I'm quite bullish on copper. It drives the green energy revolution and inventories are tapped out worldwide. Disputes between miners and governments are taking place and those never end quickly. Good luck out there, NFA.
AMEX:CPER
by ChartswithChip
Copper Futures March April Challange Hello my friends! How is going your trading week? I hope that is doing well, anyways lets talk about this operation! Bulish: Here we are waiting in the bullish way for a retest on TL that was recently broken, and from there we gonna wait for the retest then a break on the most recent high and the we gonna see if the price gonna reach the closest resistance (DR). Bearish: Here for the bearish term we gonna wait for the price going back to his last channel and then get in bearish for a channel strategy of selling high and then buying low.
COMEX:HG1!
by CherPetitPrince
1