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Xcuusd (Copper)

COPPER OUTLOOK - XCUUSDCopper has been trading in a bearish channel since 2011 right after bouncing off from the ascending resistance of the ultimate bullish channel. The first corrective wave in the blue bearish channel ended last year and price failed to break out to the upside. A critical price level has been broken and this will potentially expose the copper price to a further downside. I had forecast this short setup last year and I have now updated my chart. My first and second price target at $2.32/lb and $1.98/lb respectively were successfully achieved last week. If price breaks my 161.8% fib level, I expect price to reach my third target at $1.29/lb.
OANDA:XCUUSDShort
by Timgucci
Dr. Copper Back at Key Zone. Recessionary Trends Incoming?Copper is back at the major 2.50 zone I have spoken about in the past. Here is a weekly chart to show you how crucial it is: Copper of course is known as Dr. Copper due to it indicating the health of the world economy. And of course China consumes more than 50% of the copper supply. On the daily, we had multiple swings on an uptrend but recently, had a big fall from the 2.86 zone back to this key zone of 2.50. We have yet to make our first lower high swing in this downtrend. This swing could be forming at 2.62, but it requires a break and close below recent lows, taking us below 2.50. We know how coronavirus has impacted China, but perhaps copper has not priced in the recessionary trends that will come if this virus worsens. Less people travelling, less people spending money, supply chains getting disrupted all will lead to recessionary trends. We could see this break here in Copper.
OANDA:XCUUSD
by Uncharted-FX
Copper: some infosHi Guys, both formations V-Shape and U-Shape are considered to be supportive formations. V-Shaped recovery: www.investopedia.com U-Shaped recovery: www.investopedia.com Please share your views or comment and if you have any questions please do not hesitate to ask. Thank you for your support and for sharing your ideas. Disclaimer: Please note that I am not a professional trader and these are my personal ideas only. The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable to your own financial situation. Cozzamara is not responsible for any liabilities arising from the result of your market involvement or individual trade activities. IMHO: The point of trading is to make money. To make money you must have money. Depending on the money at your disposal, you can decide what to do and how to do it. By having stops you decide how much you are willing to lose. By having targets you decide how much you want to earn. Be disciplined with your protocol and with your strategies for trading. Sometime you win, sometime you lose. Don't be greedy. Be realistic. Be wary but not afraid. Be curious. Use your brain. As long as your working process make sense and your spirit is calm, everything will be fine. Be patient and be prepared for any circumtances.
OANDA:XCUUSD
by cozzamara
Copper (HG): Strong long term Buy Signal.Copper is on a three day bullish streak since the February 3rd rebound near the 2.4800 Support. The 4H chart has already turned bullish (RSI = 54.648, ADX = 36.919, ADX = 36.919) but 1D is still bearish (RSI = 34.595, MACD = -0.070, ADX = 52.434, Highs/Lows = -0.0336) so the risk remains. That risk is concentrated on the 1D MA200. As you see the MA200 on the 1D chart has acted as Resistance on previous occasions especially on the first rebound attempt after the last -13% fall in May 2019. If the price is rejected again (especially if a Double Top is made), then we expect a new rejection. On a different occasion (MA200 break out) we expect a new rally towards at least the 2.8800 Symmetrical Resistance (which is our Target). There are numerous reasons that give more probabilities for a bullish break-out: * The 1D RSI has bounced on a monthly Support level, which was last hit in July 2018. What followed last time the RSI hit 19.500 on 1D was a strong rally towards the 2.8800 Symmetrical Resistance, which is our Target. * The current rebound is practically a Double Bottom as it was made near the 2.4800 Low of September 3rd, 2019. * Last time Copper made a Double Bottom was on January 3rd 2019. The result was a bullish rally even higher than the 2.8800 Symmetrical Resistance. Previous successful Buy Signal on Copper made last August: ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
COMEX:HG1!
by InvestingScope
Copper Coiling at a Major Support/Flip ZoneCopper on the 4 hour is looking very nice. We have had a prolonged down trend with multiple swings, and this has hit a major support/ flip zone where we would expect profit to be taken, and then perhaps a reversal. We are seeing that price has not been making new lower highs. In fact we can say price is struggling to make another lower high swing. We seem to be creating the beginnings of a reversal foundation with a range and or a double bottom with engulfing candles showing where the buyers are at. I would like to see a first higher low swing in the new trend, which we could be forming currently but will not be confirmed until we break and close above the blue level marked ( 2.5550 zone). First target will be the flip zone at 2.62. Take a look at the weekly chart to see how important this support/flip zone is:
OANDA:XCUUSDLong
by Uncharted-FX
2
ominous giant wedgehad expected this to break to the north.. those new xtra large red bars are making me wonder about south. Always amusing looking back at these things .. lot of grand visions of tight supply and never ending demand. thats not what the traders think. What happens to the spy if copper tries for $2.00? Fed pump keep balloon in the air? sales team looking strong here. tempo starting to ramp up. start looking for chairs? Maybe just quick case of wu-flu and back to biz in a week or two? Any thoughts?
COMEX:HG1!
by leftey
1
Copper: First Corrective Wave TargetIn "Copper Tempest" (see related ideas), I analyzed the macro-view on Copper. Now it's time to act. My trade starts from 2.8462 with final target of 2.8125 (end of first corrective wave). Stop Loss set at 2.8537. Disclosure: My ideas contain statements and projections based on assumptions on capital markets, and therefore inherently subject to numerous risks and uncertainties. Before buying or selling any stock you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal. I am not a financial advisor.
OANDA:XCUUSDShort
by Investing_Fellow
Copper Tempest: The Bear before the BullIf you like this idea, don't forget to hit the Like Button and to Follow Me! Exciting days for Copper. The brown metal reached the $2.8575 level. I'm confident that copper price will rise in the long run if copper demand, especially for China (largest copper consumer), will continue to record highs (527,000 tons in December 2019). However, we still live on planet earth, and we need to make a deal with technical analysis. I believe Copper has terminated an Elliot wave impulse, with wave 5 hitting today's high ($2.8575). I will expect in the next days the A, B, and C corrective waves. This theory is enforced by Volume Profile analysis (performed on Elliot Impulse Range) that shows POC support at $2.6436, and an exciting volume development around $2.7947. I expect corrective wave C to touch this support to bounce back for a new impulse wave 1 (If the market will let it). Stochastic still confirm this analysis. The indicator showed no reversal for this cycle, and it is approximating the overbought area, by the way, again with a bullish setting. Disclosure: My ideas contain statements and projections based on assumptions on capital markets, and therefore inherently subject to numerous risks and uncertainties. Before buying or selling any stock you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal. I am not a financial advisor.
OANDA:XCUUSDShort
by Investing_Fellow
2