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Xcuusd (Copper)

COPPER: Correction may be comingThe chart shows that the big bull market in copper may be weakening and about to correct. The 2H ATR (amber line) showing the bull strength, is vacillating in its conviction. Finally, there is a trend-switch for the south. This is a trend following set up - which means if shorting there can be no targets. Stop losses are usually difficult to define, are large and somewhere above the ATR line. Price of copper is dependent on the US Dollar strength. The DXY shows trends opposite to copper. Disclaimers : This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
OANDA:XCUUSD
by Captain_Walker
COPPER (XCU/USD) – Week 3 – Indecision territory.Copper prices have been lifted to a fresh new 8-year high, sustained by the odds, that an improving economy will further expand consumption along with major US coronavirus relief package passing into law and optimism over the global coronavirus vaccine rollout. At this moment in time, we find ourselves in a big weekly bullish trend which we expect to run its course in the future, but at the same time, we anticipate a pullback that can push the price lower in the short-term. Our advice is to skip this one for this week and focus on other instruments as it might get messy. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
OANDA:XCUUSDLong
by financialflagship
Copper is heading towards support, potential rise!Price is approaching our first support at 3.58653, in line with our 38.2% Fibonacci extension, 23.6% Fibonacci retracement and horizontal pullback support, where we remain bullish above this level. We could see a potential bounce at this level and further rise up towards our first resistance at 3.65145, in line with our 78.6% Fibonacci extension and -27.2% Fibonacci retracement. It is worth noting that the price is still holding above the ascending trendline and the Ichimoku cloud, showing bullish pressure in line with our analysis. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:XCUUSDLong
by Tickmill
Copper is facing bullish pressure, potential for further rise!Price has just bounced off our first support in line with our 38.2% Fibonacci extension, 50% Fibonacci retracement and horizontal swing low support, where we remain bullish above this level. We expect a possible further rise up to our first resistance at 3.57843, which is in line with our 61.8% and 78.6% Fibonacci extension levels. It is also worth noting that price is holding above both our ascending trendline and the Ichimoku cloud, which shows bullish pressure in line with our analysis. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:XCUUSDLong
by Tickmill
Copper is heading towards support, potential rise!Price is approaching our first support in line with our 50% Fibonacci extension, 38.2% Fibonacci retracement and horizontal overlap support, where we remain bullish above this level. A small bounce and then a further rise above first support at 3.50954 towards first resistance at 3.57843 could be possible. It is also worth noting that RSI remains above the ascending trend line, which shows bullish pressure in line with our analysis. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:XCUUSDLong
by Tickmill
Copper is facing bullish pressure, potential for further risePrice is facing bullish pressure from our first support in line with our 61.8% Fibonacci extension, 76.4% Fibonacci retracement and horizontal swing low support, where we remain bullish above this level. A further rise above first support at 3.47033 towards first resistance at 3.52870 could be possible. It is also worth noting that RSI has just bounced from the support level at 35.09, which shows bullish pressure in line with our analysis. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:XCUUSDLong
by Tickmill
Copper is approaching support, potential for a further rise!Price is approaching our first support in line with our horizontal overlap support and 38.2% Fibonacci retracement, where we remain bullish above this level. A short term rise above first support at 3.50883 towards first resistance at 3.57843 could be possible. It is also worth noting that price is now above EMA (55), which shows bullish pressure in line with our analysis. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:XCUUSDLong
by Tickmill
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!
OANDA:XCUUSDLong
by ridethepig
Copper is heading towards support, potential rise!We are seeing a medium-probability bullish scenario as price approaches our first support area at 3.30102, where we could see a further rise at this level towards our first resistance at 3.34271. It is worth noting that price continues to trend above the Ichimoku cloud and ascending trendline, which shows bullish pressure. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:XCUUSDLong
by Tickmill
Copper is approaching resistance, potential drop!Price is approaching our first resistance area at 3.30670, which is in line with the 161.8% Fibonacci retracement level and 61.8% Fibonacci extension level, where we could see a fall below this level towards our first support at 3.23103. The Stochastic indicator is also testing the resistance level at 67.44, indicating that a bearish reversal may be happening soon. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:XCUUSDShort
by Tickmill
#Copper - Higher High - Position yourself long term #XCUUSDToday, August 19, 2020, the 2019 April high within wave 1 of wave III was taken out of the market. Whoever wants to earn real money in the next few years, as with gold and silver stocks, can now also position himself with copper or its producers. I introduced a few in the last YT video. In my opinion, price setbacks should be used for strategic entry or position building. Greetings to yesterday's participants from Hayek-Club Hannover Stefan Bode
OANDA:XCUUSDLong
by StefanBode
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