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Hg1

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
Buying Copper at 50% retracement.XCUUSD - Intraday - We look to Buy at 4.074 (stop at 4.034) The 50% Fibonacci retracement is located at 4.087 from 4.237 to 3.937. Prices have reacted from 3.936. Daily signals are mildly bullish. Short term momentum is bullish. A lower correction is expected. Our profit targets will be 4.174 and 4.194 Resistance: 4.130 / 4.150 / 4.175 Support: 4.100 / 4.070 / 4.050 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!Long
by VantageMarkets
Copper Futures ( HG1! ), H4 Potential for Bearish DropTitle: Copper Futures ( HG1! ), H4 Potential for Bearish Drop Type: Bearish Drop Resistance: 4.1130 Pivot: 4.0145 Support: 3.8945 Preferred case: Looking at the H4 chart, my overall bias for HG1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Expecting price to drop from the pivot at 4.0145 where the overlap resistance and 23.6% Fibonacci line is before continue heading down towards the support at 3.8945, where the overlap support is. It's worth noting that there is an intermediate support at 3.9245, where price might struggle to break through Alternative scenario: Price could head up towards the resistance at 4.1130, where the overlap resistance and 61.8% Fibonacci line is. Fundamentals: There are no major news.
COMEX:HG1!Short
by Genesiv
Copper Futures (HG1!), H4 Potential for Bullish RiseTitle: Copper Futures (HG1!), H4 Potential for Bullish Rise Type: Bullish Rise Resistance: 4.5770 Pivot: 4.2155 Support: 4.1090 Preferred case: Looking at the H4 chart, my overall bias for HG1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to possibly head towards the resistance at 4.5770, where the previous swing high is. Alternative scenario: Price may head back down towards the support at 4.1090 where the overlap support is. Fundamentals: There are no major news.
COMEX:HG1!Long
by Genesiv
Copper dips continue to attract buyers.XCUUSD - Intraday - We look to Buy at 4.024 (stop at 3.984) Selling posted in Asia. The bullish engulfing candle on the daily chart is positive for sentiment. Short term momentum is bearish. A lower correction is expected. We expect prices to stall close to our bespoke level (4.020). Our profit targets will be 4.124 and 4.144 Resistance: 4.080 / 4.100 / 4.133 Support: 4.060 / 4.040 / 4.020 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!Long
by VantageMarkets
Copper Futures ( HG1! ), H4 Potential for Bearish DropTitle: Copper Futures ( HG1! ), H4 Potential for Bearish Drop Type: Bearish Drop Resistance: 4.2215 Pivot: 4.1205 Support: 3.9245 Preferred case: Looking at the H4 chart, my overall bias for HG1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Expecting price to continue heading down towards the support at 3.9245, where the overlap support is. Alternative scenario: Price could head up towards the resistance at 4.2215, where the overlap resistance is. Fundamentals: There are no major news.
COMEX:HG1!Short
by Genesiv
Copper showing mixed signals with Bullish bias to $4.80Cup and Handle formed on Copper Price >200 Bullish 21>7 Bearish RSI <50 Target $4.80 Mixed - Bullish bias Resources definitely showing upside to come in the medium term, but right now there is a but of a breather which is causing a bit of selling pressure. We need to weather through this sideways range before the market chooses a direction. My bias is up but there needs to be the next catalyst. Also the US Dollar is showing short term strength which is also not great for resources as resources is priced in US dollars. and so when US strengthens the price for resources become less profitable for imports to countries.
COMEX:HG1!Long
by Timonrosso
Copper Futures ( HG1! ), H4 Potential for Bearish DropTitle: Copper Futures ( HG1! ), H4 Potential for Bearish Drop Type: Bearish Drop Resistance: 4.1205 Pivot: 4.0470 Support: 3.9245 Preferred case: Looking at the H4 chart, my overall bias for HG1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Expecting price to continue heading down towards the support at 3.9245, where the overlap support is. Alternative scenario: Price could head up towards the resistance at 4.1205, where the overlap resistance is. Fundamentals: There are no major news.
COMEX:HG1!Short
by Genesiv
Copper bulls to return around $4.00?Price action on copper has caught our eye, as its pullback from the YTD highs has paused above the November highs despite a surging US dollar. RSI (2) is overbought on the daily chart, and yesterday’s Doji held above the 20-day EMA. It's also holding above $4.00, whilst money managers and large speculators have continued to increase their net-long exposure to copper futures despite the pullback on prices. - From here, the bias is bullish above 3.95 and for prices to have another crack at the YTD high - Another approach is to scale into such a position with a wider stop, with a view to increase exposure if or when momentum turns higher sufficiently enough to call a swing low.
COMEX:HG1!Long
by CityIndex
Copper Futures ( HG1! ), H4 Potential for Bearish DropTitle: Copper Futures ( HG1! ), H4 Potential for Bearish Drop Type: Bearish Drop Resistance: 4.2300 Pivot: 4.1165 Support: 3.9245 Preferred case: Looking at the H4 chart, my overall bias for HG1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. Expecting price to continue heading down towards the support at 3.9245, where the overlap support is. Alternative scenario: Price could head up towards the resistance at 4.2300, where the overlap resistance is. Fundamentals: There are no major news.
COMEX:HG1!Short
by Genesiv
Copper potential for bearish drop to overlap supportLooking at the H4 chart, my overall bias for HG1! is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. Looking for a sell entry at 4.1165, where the overlap resistance is. Stop loss will be at 4.2065, where the overlap resistance is. Take profit will be at 3.9335, where the overlap support is. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). 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 Everest Fortune Group.
COMEX:HG1!Short
by VantageMarkets
Copper Futures ( HG1! ), H4 Potential for Bearish DropTitle: Copper Futures ( HG1! ), H4 Potential for Bearish Drop Type: Bearish Drop Resistance: 4.2900 Pivot: 4.2200 Support: 4.1105 Preferred case: Looking at the H4 chart, my overall bias for HG1! is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. Expecting price to continue heading down towards the support at 4.1105, where the previous swing low is. Alternative scenario: Price could head up down to retest the pivot at 4.2200, where the 38.2% Fibonacci line is. Fundamentals: There are no major news.
COMEX:HG1!Short
by Genesiv
Copper to see a breakdown?XCUUSD - Intraday - We look to Sell a break of 4.209 (stop at 4.249) We are trading at overbought extremes. Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. A break of the recent low at 4.221 should result in a further move lower. Reverse trend line resistance can be seen at 4.290. A Doji style candle has been posted from the high. Our profit targets will be 4.109 and 4.089 Resistance: 4.270 / 4.305 / 4.330 Support: 4.250 / 4.220 / 4.180 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