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Copper (CPR) / US DollarCopper (CPR) / US DollarCopper (CPR) / US Dollar

Copper (CPR) / US Dollar

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$Copper Trend line break In the context of technical analysis, when CAPITALCOM:COPPER experiences an uptrend trend line break to the downside, it typically serves as a warning sign for investors that the previous bullish momentum may be waning. Such a break could indicate that the asset is shifting from a bullish to a bearish trend. This is often considered a sell signal or at least a reason to reconsider long positions in the asset. Investors considering this development should look for additional confirmation signals such as increased trading volume during the break, bearish candlestick patterns, or other technical indicators turning bearish, such as the MACD crossing below its signal line or the RSI moving below 50. It's also advisable to check for any fundamental factors that may be influencing the price of copper, such as economic data releases or changes in market sentiment, to ensure that the technical signal is not a false one. In summary, a trend line break to the downside in an uptrending CAPITALCOM:COPPER market could be a significant bearish indicator, and investors should exercise caution and consider employing risk management techniques like setting stop-loss orders.
CAPITALCOM:COPPER
by AlgoTradeAlert
Dr Copper ~ Snapshot TA / Contraction x Expansion = InflectionIt ain't easy being DR CAPITALCOM:COPPER Peaked in March 2022, only to crash -38% & bottomed-out in July 2022. Since then it has fluctuated between Contraction (will Global Economy collapse?) versus Expansion (will Global Economy recover?), while also contending with outlook of China's Economy, yeesh lol. Copper's price action has also been compressing, as descending trend-line squeezes current Trading Range against ascending Parallel Channel. This suggests momentum will eventually need to "pop" in either direction...but it could also continue trading sideways a little longer while more data is disseminated by Market Makers to make a confident decision, TBC. Tick tock, time is running out for the Doctor.. Boost/Follow appreciated, cheers :) AMEX:COPX AMEX:CPER COMEX:HG1! COMEX:HG2!
CAPITALCOM:COPPER
by BlueHatInvestor
Copper pullback brings potential buying opportunityCopper has been heading lower over the course of this week thus far, with a more fearful market environment bringing dollar strength and weakness for this key metal. Dr Copper is typically seen as a key gauge of global economic strength, but it is also inversely correlated with the dollar. That means that it can also experience selling pressure on strong data if markets perceive that as being a negative in terms of the implications for monetary policy. For the long-term perspective, demand for Copper is likely to gain traction as the Chinese recovery takes shape and EV demand drives the commodity higher yet. Nonetheless, for now we are likely to see near-term movement based on risk attitudes. The pullback in to trendline and 76.4% Fibonacci support has brought about a potential bullish reversal play. A decline through trendline and $3.7875 support would signal a potential bearish breakdown from here. Until then, the bulls look like they could come back into prominence once again here.
CAPITALCOM:COPPERLong
by ScopeMarkets
Chinese PMI might send copper down.Here's how Chinese PMI can influence copper prices: Strong PMI (above 50): A higher PMI reading indicates a growing manufacturing sector, which is a positive sign for copper demand. As manufacturing activities increase, so does the need for copper, as it is an essential material used in various industries, including construction, electronics, and infrastructure. This higher demand for copper can drive up prices. Weak PMI (below 50): A lower PMI reading suggests a contraction in the manufacturing sector, which can signal reduced copper demand. A slowdown in manufacturing activities can lead to lower consumption of copper, potentially putting downward pressure on copper prices. The current PMI is below 50, indicating a contraction in economic activity. If the upcoming PMI data also falls below expectations, it could lead to increased volatility in the copper price and potentially create a favorable environment for a short trade.
PEPPERSTONE:COPPERShort
by GoldvalleyCap