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Copper Sell (Short term)We have seen an impressive bull run on Copper and Copper stocks over the past few months, my calculations / analysis shows that this may now be coming to an end and we should expect a short - term sell off on Copper and Copper stocks in the next coming weeks. Copper (XCUUSD) will be entering a correction in the second quarter of 2022. At the current price, potential downside is about 22%. My first target for this quarter is $4.09/lb and $3.51/lb is the 'final safe' at which further analysis will be made available. DISCLAIMER: This is purely educative content and must not be taken as investment advise. Good luck
OANDA:XCUUSDShort
by Timgucci
Copper Futures ( HG1!), H1 Potential for Bearish DipType : Bearish Dip Resistance : 4.7890 Pivot: 4.7740 Support : 4.7375 Preferred case: We see the potential for a bearish dip from our pivot at 4.7740 in line with 138.2% Fibonacci extension towards our 1st support at 4.7375 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection. Alternative scenario: Alternatively, price may break our pivot structure and head for 1st resistance at 4.7890 in line with 161.8% Fibonacci extension. Fundamentals: No major news.
COMEX:HG1!Short
by Genesiv
Copper Futures ( HG1!), H1 Potential for Bearish DipType : Bearish Dip Resistance : 4.7660 Pivot: 4.7370 Support : 4.6840 Preferred case: We see the potential for a bearish continuation from our pivot at 4.7370 in line with 78.6% Fibonacci retracement our 1st support at 4.6840 in line with 50% Fibonacci retracement and 78.6% Fibonacci projection. Alternative scenario: Alternatively, price may break our pivot structure and head for 1st resistance at 4.7660 in line with 61.8% Fibonacci projection and 138.2% Fibonacci extension. Fundamentals: No major news.
COMEX:HG1!Short
by Genesiv
Copper Futures ( HG1!), H1 Potential for Bullish BounceType : Bearish Dip Resistance :4.7220 Pivot: 4.6690 Support : 4.6145 Preferred case: We see the potential for a dip from our pivot at 4.6690 in line with 38.2% Fibonacci retracement and 78.6% Fibonacci projection towards our 1st support at 4.6145 in line with 78.6% Fibonacci projection and -27.2% Fibonacci expansion. Our bearish bias is supported by price trading below the Ichimoku cloud indicator. Alternative scenario: Alternatively, price may break our pivot structure and head for 1st resistance at 4.7220 in line with 61.8% Fibonacci retracement and 100% Fibonacci projection. Fundamentals: No major news.
COMEX:HG1!Long
by Genesiv
Copper Futures ( HG1!), H1 Potential for Bearish DipType : Bearish Dip Resistance :4.7220 Pivot: 4.6690 Support : 4.6145 Preferred case: We see the potential for a dip from our pivot at 4.6690 in line with 38.2% Fibonacci retracement and 78.6% Fibonacci projection towards our 1st support at 4.6145 in line with 78.6% Fibonacci projection and -27.2% Fibonacci expansion. Our bearish bias is supported by price trading below the Ichimoku cloud indicator. Alternative scenario: Alternatively, price may break our pivot structure and head for 1st resistance at 4.7220 in line with 61.8% Fibonacci retracement and 100% Fibonacci projection. Fundamentals: No major news.
COMEX:HG1!Short
by Genesiv
Copper Makes Record High For March!Copper created record highs this month, where it peaked at a high of $5.0395, breaching the previous all-time high from February 2011 once again. The previous all-time high is proving to be a strong level of resistance as price is unable to remain above this level for lengthy periods of time. There is now a long wick above this month’s candle as the sellers have pushed price down, but the candle's body remains bullish. $4.6495 is now a support level and should price decline further, it could hold price up, giving price enough momentum to make a new all-time high. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime
COMEX:HG1!Long
by Sublime_Trading
AUDAustralian dollar looks like a buy relative to US dollar. The Australian dollar the copper have a high correlation of movement between them. Copper has recently made new all time highs in US dollar terms. The Australian dollar has not made a move yet versus the US dollar while many other commodities have made upwards moves. Australia is a natural resources rich continent with many commodities and it typically booms when commodity prices are high. I think with a coming reevaluation of the US dollar, many people will reprice currencies of countries with a high concentration of commodities higher against the US dollar, essentially backing a country's currency with its commodities.
COMEX:HG1!Long
by ngordon
COPPER is one of the best investments on a 2 year basisInvestors looking for value long-term better have a look at Copper, which has been consolidating ever since its May 2021 All Time High (ATH). The 1W MA50 (blue trend-line) has been supporting all this time, indicating that the market has found a new long-term demand zone where buyers step in. The last time a similar demand level on the 1W MA50 took place was half-way through Copper's historic parabolic rally of the 2000s. In particular, in February 2004, the market made a similar High (red flag), then turned sideways into a +1 year accumulation period, when again the 1W MA50 was supporting. Eventually that demand level initiated the last and more aggressive part of this rally during 2005-2006. The 1W RSI sequences between the accumulation phases of today and 2004 are also identical. The 2006 rally peaked a little higher than the 2.0 Fibonacci extension. That should be a solid benchmark for long-term investors looking for value. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
COMEX:HG1!Long
by TradingShot
1
Copper - a barometer for stock market performance There are more ways than you and I can think of in analysing the stock market performance. From very complex charting tools to using stars alignment, for as long as stock market exists, people are obsessed with coming with tools to predict the market. Copper, for a long time has been touted as a good stock market barometer (if you believe in it). Using the weekly chart, we can see that copper price has hit a resistance level , back to where it was in 2011 (11 years ago). Is it any coincidence we are seeing some correction in the stock market now ? I leave that judgement to you !
COMEX:HG1!Long
by dchua1969
HG1! (COPPER) STILL IN A TRIANGLEHG1! (COPPER) is still making a triangle on the primary degree 4th wave. We will finish the triangle around 61.8% or 78.6% of Fibonacci. The 78.6% area is also a trend-line support zone. With the high chance, we will rebound from the trend-line area. Wave E can take further time to develop. DISCLOSURE - Please be informed that the information I provide is not a trading recommendation or investment advice. All of my work is for educational purposes only. All labeling and wave count have been done by me manually and I will keep changing according to the LIVE MARKET PRICE ACTION. So don't bias, hope on my trade plans. Try to learn Elliott Wave or other strategies and make your own strategy. Following is not that much easy. I am not responsible for any losses if u took the trade according to my trade plans. #HG #HG1! #COPPER
COMEX:HG1!
by anantadhungana
Leading Indicators Reversal in ProgressInteresting... in the last couple of weeks, as the Leading Indicators signaled a retracement, it appears that it may be time for a technical bounce... JNK broke down as expected, and exceeded target. Last week's candle had a long tail recovery, and this current week is forming a rebound. MACD still in bear territory. IWM, DJT and VALUG all seemed to have retraced hard, and bounced off a support. MACD crossed and still in bear territory... may not be over. sus. TIPS failed a support and does not seem to be recovering, not bouncing for the matter. MACD appears to be recovering though. This one is rather odd, so I would just note and leave it for now. TLT is not bullish as one would expect it to be. In fact, it looks bearish, which is favorable (bullish) for the equity markets. VIX failed a solid break out and looks to be finding 16 again, signalling the interim volatilty is over and more bullish markets to prevail. /HG Copper futures are held in a tight range and appear to be recovering this week - if it can hold steady and break out. MACD is not yet bullish. Overall, the leading indicators are signalling an interim bottom. perhaps a larger than expected rebound should follow in the coming weeks...
AMEX:JNK
by Auguraltrader
1