Copper Prices on the Rise - Do Your Research Before You T
Copper prices have recently reached a 14-month high, driven in part by China's economic improvement. This could be a potential trading opportunity, but it's important to be well-informed before making any decisions.
Copper is a key economic indicator, and its demand is expected to rise. However, the market can be volatile.
Here are some resources to help you make informed decisions:
• Copper price charts and analysis
• Information on copper trading risks
Remember, successful trading requires research, understanding your risk tolerance, and aligning your strategy with your goals
Xcu
Copper remains positive.XCUUSD - 24h expiry - We look to Buy at 3.851 (stop at 3.811)
Our short term bias remains positive.
The sequence for trading is higher highs and lows.
A lower correction is expected.
We look to buy dips.
50 4hour EMA is at 3.846.
Our profit targets will be 3.951 and 3.971
Resistance: 3.900 / 3.914 / 3.930
Support: 3.875 / 3.860 / 3.835
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.
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.
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.
Copper's momentum has changed.XCUUSD - Intraday - We look to Sell a break of 4.099 (stop at 4.139)
Our bespoke support of 4.130 has been clearly broken.
Offers ample risk/reward to sell at the market.
We look for losses to be extended today.
Short term bias has turned negative.
Our profit targets will be 3.999 and 3.979
Resistance: 4.130 / 4.160 / 4.185
Support: 4.075 / 4.030 / 3.990
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.
Copper to see a higher correction.XCUUSD - Intraday - We look to Sell a break of 4.128 (stop at 4.168)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A higher correction is expected.
A break of the recent low at 4.130 should result in a further move lower.
50 2hour EMA is at 4.129.
Bearish divergence is expected to cap gains.
Our profit targets will be 4.028 and 4.018
Resistance: 4.200 / 4.223 / 4.250
Support: 4.165 / 4.150 / 4.130
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.
Copper rally to be capped.XCUUSD - Intraday - We look to Sell at 4.185 (stop at 4.230)
With signals for sentiment at overbought extremes, the rally could not be extended.
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
We look for a temporary move higher.
Our profit targets will be 4.075 and 4.055
Resistance: 4.160 / 4.187 / 4.250
Support: 4.150 / 4.080 / 4.030
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.
Dr Copper is telling us deflation is comingAt the beginning of June I put out an idea about shorting Copper . The market didn't do me the favor to get up to my entry, as I ignored past resistance. Probably got a little greedy too. Currently copper is sitting at support and could bounce up to 4$, maybe even up to 4.25$.
However in the long term, I see it go much much lower. In my opinion we are in a global recession, and probably even in a global depression. As interest rates and energy costs have risen rapidly, the demand for many things has gone down. We haven't seen the full effects of too much debt + lockdowns + WW3 + not enough energy production yet, but we are getting there. Copper going down is just the first step, and this could turn really really ugly.
The 2006-2008 top on Copper looks pretty similar to this one. Huge rally up, consolidation, attempt to breakout, failure, massive collapse. This time around we had a shorter cycle due to the lockdowns + stimulus + low rates + ESG , but this situation is truly reversing. We have no lockdowns, no stimulus, high rates and the ESG movement is clearly losing steam. Overall volume is low and that's a sign that demand for Copper isn't all that high. It was mostly supply being low, and not demand being high.
So how low could we go? The truth is that for some time this could be a bottomless pit. However, I believe the bottom will come in the 1.5-1.9 area, as the market needs to sweep the double bottom at 1.9. In terms of technical analysis this is the area anyone should be targeting. Once we get there, we could see a swift reversal as the Fed and all central banks are forced to cut rates and print money once again, in order to save the system from collapsing. They are stuck between a rock and hard place, and although they are doing their best to fight inflation now, they will soon be trying to fight deflation.
Copper Sell into 20 EMA.XCUUSD - Intraday - We look to Sell at 4.099 (stop at 4.135)
Our short term bias remains negative.
There is no clear indication that the downward move is coming to an end.
20 4hour EMA is at 4.100.
Preferred trade is to sell into rallies.
Our profit targets will be 4.011 and 4.001
Resistance: 4.050 / 4.100 / 4.130
Support: 4.000 / 3.950 / 3.900
Copper to buy a dip.XCUUSD - Intraday - We look to Buy at 3.971 (stop at 3.934)
With signals for sentiment at oversold extremes, the dip could not be extended.
3.971 has been pivotal.
We look for a temporary move lower.
Bullish divergence is expected to support prices.
Our profit targets will be 4.064 and 4.084
Resistance: 4.050 / 4.100 / 4.130
Support: 4.000 / 3.965 / 3.900
Copper rallying hardCopper bounced very hard off the Yearly Pivot, however it doesn't look ready for a new sustainable rally. Maybe this bounce had something to do with a fundamental catalyst, but nothing to do with the bull market resuming. To me the market is in a very clear distribution phase, and it simply bounced after taking out several major lows. Essentially this is a short squeeze / dead cat bounce, and going for the retest of the breakdown. The market tends to go back and retest such key areas before moving to the original direction. Similar story for Gold which is also bouncing and has some room to the upside before it reverses to the downside.
In the long term I do believe Copper will be headed much much higher, especially as governments print more and more, along with the ESG movement. Copper is necessary for the green revolution and that's why I can see it much higher in the long term. However in the short term the price got too high, too fast, and as it failed to sustain above the 2011 ATHs, it is probably headed towards 3.75 and maybe even lower in the next few years.
For now the first key target for this trade 3.95, although someone could simply take partial profits there. The trade has a fairly decent R/R and decent probability of playing out as long as the market gets to our entry.
Copper Buy a break setup.XCUUSD - Intraday - We look to Buy a break of 4.551 (stop at 4.512)
Daily signals are mildly bullish.
We are trading at oversold extremes.
A higher correction is expected.
A break of the recent high at 4.550 should result in a further move higher.
Our profit targets will be 4.651 and 4.671
Resistance: 4.550 / 4.600 / 4.650
Support: 4.450 / 4.400 / 4.350
Copper into JacksonCopper: Market Commentary 23.08.2021
A couple of points to note here; we ticked the 161.8% extension which was our third wave target in our previous copper chart at the beginning of 2021.
It always comes down to the same situation; an impulsive complex which can be called sound, but which has one sickly component. As we head into Jackson, according to the long term wave count we have the following two charts which distinguish the five wave sequence:
So now buyers are a point up after sweeping the highs, they are in a position to take profits over the coming months and quarters and bring together their own herd again at 3.33x lowest play the fifth wave inside of our major third wave.
So far we have done a good job of shepherding the flows in copper as all has been predicable on the technical side; here looking for 3.33x before a slingshot towards 5.50xx in 2023.
ridethepig | Copper for the Yearly Close📌 Copper for the Yearly Close
First with an immediate review of the flows.
We were tracking for the capitulation low which was our moment to advance...
It was a great choice of moment to load the longs.
Extending the belief in commodity shortages which have been entering into play all year long. The highs are worth striving for, all factors remain the same with the macro picture still equal. The main cases where this will play an additional note too at China and Australia flows which is something to consider.
After clearing our first targets it's time to aim for the 4.5 main impulsive zone. A flyaway break is in play with such a bullish close, which is generally not very common. Of course the last time this happened was in the early 2000's; and we exploded.
As usual thanks for keeping the feedback coming 👍 or 👎
ridethepig | Base Metals StrategyThe linkage between base metals and the rate differentials is unknown to many in the pseudo-classical school of TA, which believe only in absolute correlation; as you all know the supply disruptions and pandemic related closures triggered the waterfall but we are not out of the woods yet...Remember we still have the demand side shock to play into price too, this will allow us to complete a 'wave 2' pullback with an ABC correction.
The revisions down in mining supplies was enough to spark an interest in buyers, and now that most believe we have seen the worst from the demand side it is allowing Copper to form a MT and LT base formation. Those tracking the mining projects in Brazil will know the announcements for a restart in operations have already started. This is going to keep Copper and Steel in particular in strong bid.
📍 On the positioning side, after the healthy (in a technical sense) neutralisation of the entire commodity board we have cleared both sides of the extremes and positioning is currently neutral. The majority must not be allowed on this train, or else the threat of an over-crowded wedge would be disastrous. Take for example what happened against Oil, the boat was fully loaded and we got the historic shakeout:
Eyeballing a test of 2.3 as the value area to re-engage with bullish exposure. We can then bring about the transfer from the wave 2 retrace into an impulsive wave 3. This will be excellent training for those wanting to dig deeper into wave theory and understand the complicated motifs.
As usual, thanks for keeping the support coming with likes, comments, charts and etc!
XCUUSD facing bearish pressure from 1st resistance !
Price is facing bearish pressure from our first resistance in line with our 38.2% fibonacci retracement and horizontal swing high resistance, where we could see a further drop to our first support target. Stochastics is showing signs of bearish pressure as well, in line with our bearish bias.
XCUUSD is facing pressure 1st resistance Price is facing bearish pressure from our first resistance, in line with our 100% fibonacci retracement and 127.2% fib retracement, where we could see further downside from here towards 1st support at 2.8008. Both 20 period EMA and Ichimoku cloud are showing signs of bearish pressure as well.
XCUUSD facing bearish pressure from 1st resistance ! Price is facing bearish pressure from our first resistance, in line with our 61.8% fibonacci retracement and 76.4% fib retracement, where we could see a reversal below this level. Take note that our 20 period EMA and Ichimoku cloud are showing signs of bullish pressure as well.
XCUUSD is facing pressure from trendline and 1st resistance Price is facing bearish pressure from our first resistance, in line with our 61.8% fibonacci retracement, horizontal pullback resistance and 127.2% fibonacci extension where we could see a reversal below this level. Our 20 period EMA and Ichimoku cloud are showing signs of bearish pressure as well.
XCUUSD is facing pressure from trendline and 1st resistance Price is facing bearish pressure from our first resistance, in line with our 50% fibonacci retracement, horizontal pullback resistance and 127.2% fibonacci extension where we could see a reversal below this level. Our 20 period EMA and Ichimoku cloud are showing signs of bearish pressure as well.
XCUUSD facing bearish pressure from 1st resistance !
Price is facing bearish pressure from our first resistance, in line with our 50% fibonacci retracement, horizontal pullback resistance and 127.2% fibonacci extension where we could see a reversal below this level. Our 20 period EMA and Ichimoku cloud are showing signs of bearish pressure as well.