HGS1! trade ideas
COPPER FUTURES : A NEW BULLISH POTENTIAL ?ENGLISH
- Prices have been registering lower highs and higher lows, trading inside a consolidation pattern since 2009, the long-term trend is then neutral.
- More recently, the market rebounded for the second time over 1.9735 with a strong bullish acceleration which led prices to a clearing of their long-term bearish trendline (dotted line). Volumes are globally on the rise while the RSI is now back inside its buying zone following a solid clearing of its 50% level.
- This is a bullish situation. Even if a pull-back over the 2.9680/2.9725 zone remains possible, the recent trendline clearing has unlocked a new bullish potential towards 3.3000, 3.6150, and the 4.0000/4.0715 zone by extension.
NB : From a fundamental point of view, renewable and other alternatives energies need a lot of copper to be conceived. the transition between fossil energies and renewable energies is likely to have an important positive impact on Copper’s demand in the months/years to come.
FRANÇAIS
- Les prix ont enregistré des creux de plus en plus hauts et des sommets de plus en plus bas, se traitant à l’intérieur d’une figure en consolidation depuis 2009, la tendance long-terme est donc neutre.
- Plus récemment, le marché a rebondi une seconde fois au-dessus des 1.9735 propulsé par une forte accélération acheteuse ce qui a conduit les prix à une rupture haussière de leur ligne de tendance baissière de long-terme (pointillés). Les volumes sont globalement orientés à la hausse et le RSI se trouve désormais dans sa zone d’achat suivant un franchissement franc de sa zone des 50%.
- Il s’agit donc d’une situation acheteuse. Même si un pull-back au-dessus de la zone des 2.9680/2.9725 reste possible voir probable, le récent franchissement de la ligne de tendance baissière a débloqué un nouveau potentiel haussier vers 3.3000, 3.6150 puis vers la zone des 4.0000/4.0715 par extension.
NB : D’un point de vue fondamental, les énergies renouvelables et alternatives demandent beaucoup de Cuivre afin d’être conçues. La transition entre énergies fossiles et alternatives a de grandes chances d’avoir un fort impact positif sur la demande de cuivre dans les mois/années à venir.
COPPER INTO AREA OF TRENDLINE SUPPORT AND HORIZONTAL SUPPORTA resumption of these two support lines will possibly create a great buying opportunity for copper. If we want to buy the 8hour candlestick has to close above 3.00, if the price continues up to its a great risk to reward trade.
Target: 3.0885 (2.68%)
Stop-loss will be placed right under horizontal support.
Copper Futures Weekly Chart : Bullish Momentum to continueCopper Futures Current price Rs. 532.70, rising channel , bullish ichimoku set up, RSI at 78,ADX at 36.5,copper should continue it's rise and move up after consolidation between Rs.523- Rs.533 levels , we should see new highs towards Rs. 540-Rs-550 if stiff resistance at Rs. 534.40 is taken off with good volumes.strong support at Rs.512 if broken we may see bearish levels.
COPPER NEW ATH OR FALL BACK DOWN?Hi Again,
I am analysing, preparing for a new week. I always tend to do this on a sunday afternoon. Beware this is not an advice. I don't often trade copper but when i do i always have a good trade. I only step into this commodity when i am really really sure about it to earn some side $. Only small pieces.
Last weeks it moved more than Gold/Silver. It even reached a new ATH. Will it reach a new ATH this week/month? That's my question and nobody can answer it...only time will tell. No crystal ball stories here...
Personally i think it will retest a new ATH and then fall back, see the charts where i can set my targets to the downside. I will open a sell if it hits a new ATH. I will definitely not open a new buy since it is too much risk for me.
Good luck and safe trading everyone!
