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Hg1

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.
OANDA:XCUUSD
by Cincinnatuus
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!
OANDA:XCUUSDLong
by ridethepig
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.
COMEX:HG1!Short
by MrRenev
1
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
COMEX:HG1!Long
by dchua1969
2
[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.
OANDA:XCUUSDLong
by TheAnonymousBanker
4
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!
COMEX:HG1!Long
by SKYLOBSTER
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. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
OANDA:XCUUSDShort
by InvestingScope
Copper testing bounds of decade necklineCopper is interestingly a great gauge of economic health coming from Asia, and also a relevant view on global growth / inflationary expectations. We've been battling two head and shoulder formations since the GFC. First, the very large commodity bubble formed a big head and shoulders that peaked roughly around 2012, a time where China had maxed out its credit expansion. We got a smaller head and shoulders in the post 2015-2016 deflationary episode that tested the original trendline and bounced during the 2016-2018 bull market. The smaller head and shoulders finally broke down, which led to Copper testing the boundary of the bigger head and shoulders. I expect this to break, although there will likely be some testing of this first. Note: this is not just a technical move. There are many fundamental reasons Copper is breaking down, mostly macro related to USD strength, asian weakness, over-expansion of Chinese credit, weakening demand, etc etc. Copper interestingly mirrors the Korean Kospi index very closely, and that is also breaking down from a major long term trendline right now. Expect more deflation, and some big market problems when this finally confirms the break of the lower trendline.
COMEX:HG1!
by GTStockmaster
Elliott Wave View: Copper Expected to Turn Lower SoonShort Term Elliott Wave structure in Copper suggests the rally to $2.64 ended wave (2). The metal has since resumed lower in wave (3). The internal of the move lower is unfolding as an impulse Elliott Wave structure. Down from 2.64, wave ((i)) ended at $2.578, wave ((ii)) ended at $2.626, wave ((iii)) ended at $2.547, wave ((iv)) ended at $2.575, and wave ((v)) ended at $2.49. This move lower from August 14 high (2.642) to 2.49 completed wave 1 in the higher degree. Wave 2 bounce is currently in progress to correct the cycle from August 14 high. The internal of the rally is proposed to be unfolding as a double three Elliott Wave structure. Up from $2.49, wave ((w)) ended at $2.549 and wave ((x)) ended at $2.528. Wave ((y)) of 2 is expected to reach the blue box area of 2.587 – 2.623. From this area, Copper should then resume lower or pullback in 3 waves at least. We don’t like buying the metal. Expect the metal to find sellers and extend lower soon or at least pullback in 3 waves as far as pivot at 2.642 high stays intact.
COMEX:HG1!Short
by Elliottwave-Forecast