Copper Support & ResistanceCopper is struggling at resistance. Often when Copper Struggles, so to does the S&P500.
Copper can be ultra sensitive to the Dollar and yields, so watch it carefully as an economic barometer.
COPPER trade ideas
Short copper prefered on daily timeframe6 week low print and downwards uptrend breakout. Go short, stay short, choose your target.
Big trend dévloppingCopper is a big predictor of inflation we should have a drop in the net year but prepare for the next 10 year bull
CopperCopper looking to start the 5th wave of the C wave of the super cycle degree here IMO. Should hit around $7.50
Short-run Bearish on Copper - Converging channel pattern indicates upward trend in short-run.
- Low risk (SL is optional at any point below the lower channel trend line) because price hit channel bottom. Only movement upwards likely.
- RSI at approx. 40 suggests underbought.
- Watch for breakout as channel increasingly converging. After TP is successful, can set a trade order partly above or below the current price - to catch the breakout for a quick profit.
medium-term short position (high risk)
- existence of a very strong diverging channel
BUT...
- high risk due to low RSI, and current price level at a support line.
- therefore would recommend waiting for downward movement beyond this point before trading.
Copper & Stocks DivergingCopper and S&P500 is making a divergence.
Could this mean that we are going to be seeing weakness creep into the real estate market with Lumber and copper falling recently?
SPY has tracked copper closely with the rise & fall in inflation and yields.
The most used commodity in the world should provide pivotal insights into the next turn in the market.
If we do enter disinflation/deflation that's typically not positive for equties despite the "soft landing" narrative.
Take a Look at Copper["The candles are my news, and based on what these candles are trying to tell me is that we can trickle down lower over time. Would be great longterm entry buy around our 50% fib line, if we show signs of bullishness. This is not financial advice "]
COPPER LONGCopper suatining on upper levels, since last 8-9 trading sessions, bias bullish, confirmation above the supply marked.
Copper is Screaming! Are you listening?Why is Copper so important to track and what can we learn from studying its price action. Copper simply put is the most used base metal in the world and really powers every aspect of world. Doctor Copper is telling us something.
Copper has had an impeccable rally of the lows, this has been confirmed with the major rally in copper mining stocks.
In this chart we have overlayed the inflation rate in orange with the price action in copper.
The inflation rate has a delayed reaction based off of the price action in Copper.
What we can observe recently is the price of copper topping 112 days before the inflation rate. Copper had a significant decline which was followed by a decline in peak inflation.
Over the last 148 days, Copper has rallied 38%. Could this mean that we are about to see a delayed spike in the inflation reading?
Copper on the riseAfter the range breakout on Tuesday, Copper has been rallying higher.
Traders refer to this market as Doctor Copper since it indicates economic health. I plotted the correlation to the S&P500 below the chart and the positive correlation between the two markets is visible most of the time.
The 4.4 area above the current price is a significant Supply area although the price level is still some distance away.
With CPI coming out later today, big moves on Copper ahead of the release are not likely.
Lower-than-expected CPI data will probably lead to a stock rally and drag up copper.
The moving averages point upwards after crossing mid-December to the bullish side.
Copper trades above the Monthly Pivot which is typically considered a bullish sign.
A surprise in CPI data could lead to a correction and return the price to a retest of the range highs at 3.9.
COPPERCoinciding with my last view on the USD this adds on a confirmation bias that this might be the last move for copper. Using Elliot wave pattern to follow through on the foundational idea linked below
Call a COPPER!!Trade Idea: Buying Copper
Reasoning: Double bottom formation
Entry Level: 3.8018
Take Profit Level: 3.8579
Stop Loss: 3.7818
Risk/Reward: 2.8:1
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New trading strategy upgrade - Copper Set up your SL and rule yourself following our discipline.
Hi traders, this is my personal trading idea only. Please give an AGREE/ LIKE if you agree with my trading plan. My chaos drawing is not to predict and guess the further, it is my plan where we are on the chart and how we shall trade on what we see. My trading strategy is Price Action - using Price movement only, your comments are highly welcome. Message privately for a 1:1 training program - Price Action Strategy. Trade well & Good luck guys.
Copper about to complete 0.61 retrace Copper about to complete 0.61 retrace.
This zone was previously a support zone of distribution range before the mark down.
New trading strategy upgrade - Copper Set up your SL and rule yourself following our discipline.
Hi traders, this is my personal trading idea only. Please give an AGREE/ LIKE if you agree with my trading plan. My chaos drawing is not to predict and guess the further, it is my plan where we are on the chart and how we shall trade on what we see. My trading strategy is Price Auction - using Price movement only, your comments are highly welcome. Message privately for my 1:1 training program - Price Auction Strategy. Trade well & Good luck guys.
Bearish Copper Macro BiasMacro headwinds for copper and a measurement of "the state of the economy" are not looking too bright.
This trade setup has almost the best technical setups as I have ever seen, the only one lacking would be a three, or four-drive bearish impulse, where as we see here, we only have 2 drives BUT our monthly timeframe analysis allows for divergence to play out as such for bearish continuation, as it is macro timeframe analysis.
Short-term bulish retracement with bearish bias from "premium" fibonacci levels (>0.5 to 0.786)
Bear flag trade setup valid if weekly bullish structure breaks if monthly premium not reached
Confluence for a short trade:
Deviation above previous range/structure highs
RSI bearish divergence upon deviation
Reversal zone signal prior to divergence lock-in (strong)
SFP liquidity grab at the highs
Bearish market-structure break, creating a liquidity gap candle
Retracement into a premium features a bearish orderblock, fair value gap, and breaker candle at range highs
Trend end candles printed
RSI bearish divergence reclaiming 70 level (strong)
PEPE (Strong x5)
Macro Quasimodo level as confluence point of interest if price tries to break above range temporarily
Bear-flag weekly structure
Why so serious?
Copper updateBloomberg :"Recently, investor opinion has shifted more in favor of the industrial metal. According to the most recent CFTC statistics, hedge funds increased their net bullish Comex copper bets to a 3-week high. Although there is some worry that the road to reopening may be difficult, the growth prognosis appears to be unmistakably positive".
What's Next on Copper Intraday H&S?The aforementioned Asset Re: Copper displays a possible bearish intraday set-up. All things considered (Methodology, + Risk strategy), should this set-up become validated, this trader will revert to correlated assets i.e., XAUUSD and co-correlated assets of XAUUSD i.e., XAGUSD, AUDUSD, NZDUSD, EURUSD and GBPUSD, for similar set-ups and entries within the annotated and technical direction.
Ps: Not intended as a form of financial advice, but merely reflects the opinions of a retail speculator.
New trading strategy upgrade - Copper Set up your SL and rule yourself following our discipline.
Hi traders, this is my personal trading idea only. Please give an AGREE/ LIKE if you agree with my trading plan. My chaos drawing is not to predict and guess the further, it is my plan where we are on the chart and how we shall trade on what we see. My trading strategy is Price Auction - using Price movement only, your comments are highly welcome. Message privately for my 1:1 training program - Price Auction Strategy. Trade well & Good luck guys.
New trading strategy upgrade Set up your SL and rule yourself following our discipline.
Hi traders, this is my personal trading idea only. Please give an AGREE/ LIKE if you agree with my trading plan. My chaos drawing is not to predict and guess the further, it is my plan where we are on the chart and how we shall trade on what we see. My trading strategy is Price Auction - using Price movement only, your comments are highly welcome. Message privately for my 1:1 training program - Price Auction Strategy. Trade well & Good luck guys.
