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Copper Financial Futures

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HGS1! trade ideas

Copper down 5 days in a row; 3.5545 is keyThe industrial metal topped on March 7th at 5.0395. However, for the next 3 months, HG sold off aggressively and made a July 15th low at 3.1315! Fears of increased inflation, increased interest rates, and increased Covid cases in China led to a fear of lack of future demand. Copper traded between 3.2430 and 3.7830 from mid-July and November 10th, when it gapped higher the day after a lower-than-expected US CPI reading. However, Copper was stopped just short of the 200-Day Moving Average near 3.9600 on November 14th, and it hasn’t looked back since. After a 5-day selloff, is copper ready to bounce? News of additional lockdowns and the “take-back” of a loosening of restrictions caused Copper to continue lower. Copper traded to horizontal support on Monday near 3.5545. If this price breaks, copper may easily fall to 3.3625. The next horizontal support levels are at the lows from September 28th at 3.2430, then the lows from July 15th at 3.1315. However, don’t be surprised if there is some profit-taking ahead of the long US holiday at the end of the week. Sellers will be looking to add to shorts if price does bounce. The first resistance level is at the August 26th highs of 3.893, then a confluence of resistance at: 1. the highs of November 14th 2. the 200 Day Moving Average, 3. the 61.8% Fibonacci retracement level from the highs of June 3rd to the lows of July15th. This resistance zone is between 3.9600 and 4.0250. However, 3.5545 seems to be the “make or break” level for copper. If it breaks, copper could be on its way to the next support at 3.3625. But if it holds, it could bounce to the 4.000 area!
COMEX:HG1!
by FOREXcom
Copper (COPPER/INR) Commodity Analysis 18/07/2021 Technical Analysis: As you can see, there exist a hidden Bullish Divergence with MACD which is the sign of bullish trend continuation as Copper has started its bullish wave since March 2020. It is moving in an ascending channel. We draw Fibonacci retracement from the low to the top of last impulsive wave which are defined as the Fib levels on chart. The commodity fell to 78% Fibonacci Retracement and it is consolidating and accumulating on Fibonacci Golden Zone currently. we believe this commodity is getting ready to shoot to the higher targets which are defined by Fibonacci Projection tool of the past wave.
MCX:COPPER1!Long
by BitonGroup
Metals to Break its All Time High AgainMetals to Break its All Time High. I have discussed about Gold before and in this tutorial we will study into Copper. From last week Fed chairman statement, he said “it is premature to be talking about pausing our rate hike. We have a ways to go." The continuous inflation is almost a certainty into next year, and what asset or instrument works well with inflation? Content: Why interest in copper again • Fundamental • Technical 5 Major Copper Uses: • Building Construction • Electronic Products • Transportation • Industrial Machinery & Equipment • Medical Copper Consumption Worldwide: 1. China 54% 2. Europe 15% 3. Other Asia 14% 4. America 11% 5. Other 6% Source: Statista 2021 Minimum fluctuation 0.0005 per pound = $12.50 0.001 = $25 0.01 = $250 0.1 = $2,500 Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
COMEX:HG1!
by konhow
2
#COPPER Weekly Major Support & Resistance Levels.Providing Weekly Support and Resistance levels for next coming week based on Central Pivot Range and its major support & resistance levels of week, where price can take support and face resistance. Three black lines indicating weekly Central Pivot Range. Previous week high & low also performs as a major support and resistance levels. Can take long & short positions according to how price perfoms at particular given support & resistance levels.
MCX:COPPER1!
by Jha_Nidhi
Copper - Is Copper About to Become the New Gold?Copper Linear Mode Hourly/Monthly With the recent breakdown in gold it seems unlikely to expect appreciation in copper although this chart suggests otherwise. Is copper about to become the new gold ? The Monthly chart shows copper has completed a wave 4 pattern at the lower channel as shown. On the hourly chart prices are currently printing a bullish pattern that will unfold in a larger wave 5 up. Although there is more than one possibility to label the current structure I believe a breakout of the diagonal will confirm this is in the early stage of a wave three pattern upward. This should be a powerful move up so put it on your radar. MONTHLY
COMEX:HG1!Long
by oliverrathbun
Copper Futures ( HG1!), H4 Potential for Bearish MomentumType: Bearish Momentum Resistance: 3.5875 Pivot: 3.3815 Support: 3.2415 Preferred Case: The H4 price is in a downward channel and crossing below ichimoku cloud . The price may drop form the pivot at 3.3815, where the 61.8% fibonacci retracement is to the 1st support at 3.2415 where the swing low and 78.6% fibonacci projection sits Alternative scenario: If there is a price reversal, price will move to 3.5875, where the swing highs and 78.6% fibonacci retracement are. Fundamentals: There are no major news.
COMEX:HG1!
by Tickmill
1
Copper Futures ( HG1!), H4 Potential for Bearish MomentumType: Bearish Momentum Resistance: 3.5875 Pivot: 3.3815 Support: 3.2415 Preferred Case: The H4 price is in a downward channel and crossing below ichimoku cloud . The price may drop form the pivot at 3.3815, where the 61.8% fibonacci retracement is to the 1st support at 3.2415 where the swing low and 78.6% fibonacci projection sits Alternative scenario: If there is a price reversal, price will move to 3.5875, where the swing highs and 78.6% fibonacci retracement are. Fundamentals: There are no major news.
COMEX:HG1!Short
by Genesiv
Copper Futures (HG1!), H4 Potential for Bearish DropType: Bearish Momentum Resistance: 3.5875 Pivot: 3.3815 Support: 3.2415 Preferred Case: The H4 price is in a downward trend and crossing below ichimoku cloud . The price is consolidating now, if the price can break the consolidating area, the price may drop form the pivot at 3.3815, where the 61.8% fibonacci retracement is to the 1st support at 3.2415 where the swing low and 78.6% fibonacci projection sits Alternative scenario: If there is a price reversal, price will move to 3.5875, where the swing highs and 78.6% fibonacci retracement are. Fundamentals: There are no major news.
COMEX:HG1!
by Tickmill
Copper Futures (HG1!), H4 Potential for Bearish DropType: Bearish Momentum Resistance: 3.5875 Pivot: 3.3815 Support: 3.2415 Preferred Case: The H4 price is in a downward trend and crossing below ichimoku cloud. The price is consolidating now, if the price can break the consolidating area, the price may drop form the pivot at 3.3815, where the 61.8% fibonacci retracement is to the 1st support at 3.2415 where the swing low and 78.6% fibonacci projection sits Alternative scenario: If there is a price reversal, price will move to 3.5875, where the swing highs and 78.6% fibonacci retracement are. Fundamentals: There are no major news.
COMEX:HG1!Short
by Genesiv
BEAR FLAG In the context of technical analysis, a flag is a price pattern that, in a shorter time frame, moves counter to the prevailing price trend observed in a longer time frame on a price chart. It is named because of the way it reminds the viewer of a flag on a flagpole. The flag pattern is used to identify the possible continuation of a previous trend from a point at which price has drifted against that same trend. Should the trend resume, the price increase could be rapid, making the timing of a trade advantageous by noticing the flag pattern.
MCX:COPPER1!Short
by kartik89bhatnagar
Copper Inverse Head and Shoulders December Copper has been trading in a range since the big breakdown at the end of June, and a lot of the downward action has come from negative Covid news out of China along with the dollar pushing higher. As we look at the dollar potentially having a blowoff top and the inverse head and shoulders pattern, there could be a push higher toward the 50-day moving average, also aligning with trendline resistance. Continued bearish news out of China or the dollar continuing higher would hurt copper and could drive the market to the bottom end of its current range.
COMEX:HGZ2022
by Ryan_Gorman