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MINI - USD London Copper FuturesMINI - USD London Copper FuturesMINI - USD London Copper Futures

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LUC1! trade ideas

The Catalyst Sending Copper Higher? Copper futures prices rallied by more than 4% in the last week’s trade, and the metal is now approaching the year-to-date breakeven level. The question is: What is behind this rally? Recent catalysts: CPI and PPI came in well above estimates last week, sending interest rate yields higher. Industrial production numbers for the month of January contracted by -0.1% vs +0.1% expected. One would expect that both catalysts would have been negative for the industrial metal. However, interesting developments in the manufacturing sector showed strength, especially the Philly Fed Manufacturing Index, which showed improving conditions for the first time since August 2023. PPI for the month of January was equally surprising, showing producer prices increased more than estimates. Core PPI came in at +0.5% vs. +0.1% expected. A notable finding from the PPI report was that the final demand for construction, both government and private, was positive. This suggests a potential trough in construction, typically bullish for industrial metals such as copper. Technicals: Copper is currently trading between a wedge, and the recent break and close above the 50 and 200 Day EMAs suggest that we will likely retest the high end of the wedge. Breaking and closing above 3.95 would confirm an upside breakout. Check out CME Group real-time data plans available on TradingView here: www.tradingview.com Disclaimers: CME Real-time Market Data help identify trading set-ups 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 *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
COMEX:HG1!
by Blue_Line_Futures
COPPER Sell opportunity within a Channel Down.Copper (HG1!) is trading on its 1D MA50 (blue trend-line), on a Bullish Leg following the February 09 2024 rebound. That was a Lower Low within the Channel Down that started in December. The long-term pattern is a Falling Wedge and being much closer to its top, after the January 31 2024 than its bottom, this is a strong sell opportunity. The August 2023 Lower High rejection initially hit the 0.786 Fibonacci retracement level before making a Lower Low much later. As a result our target is 3.6250, which is just above the0.786 Fibonacci level and a technical Lower Low for the short-term (blue) Channel Down. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
COMEX:HG1!Short
by TradingShot
CopperRight now copper futures (HG1!) are trading sideways in a well defined channel. With the growing demand for elecrtic vehicles and government pledges to decrease their carbon footprint copper should become a valuable commodity for building this new infastructure. While copper is trading in this channel I am going to be trading with the CPER ETF that tracks copper futures extrememly accuratly through the purchase of bonds to capture opportunities as prices bounce off of supports and resistance lines. When the price does break through the resitance I will switch to longer term investments in the COPX ETF which loosely emulates the Copper Futures but focuses on holding in mining companies and pays out dividends.
COMEX:HG1!Long
by Notbadchad
1
Copper futures. Disinflation is almost there to comeCopper futures fell further to around $3.8 per pound, marking a weekly loss driven by concerns over demand from China and heightened US interest rates. China's manufacturing sector contracted for the fourth consecutive month in January, contributing to the negative sentiment. With a robust US jobs report, expectations of a Federal Reserve rate cut in March have diminished. Weaker Q1 industrial activity is expected to dampen demand, although Glencore's projected 5% production decline in 2023, along with an anticipated additional drop in 2024, could offset this. Despite these challenges, there is still hope that China will implement measures to stabilize its economy. Technical graph illustrates also, 5-years SMA is a massive long term support in this time for Copper futures COMEX:HG1! , as it breakthrough can deliver solid further losses for Copper futures prices, like in 2020 (30% off), in 2014-16 (40% off) and in 2008-09 (50% off).
COMEX:HG1!
by Pandorra
Copper in USD per ton to reach $15,000/t by 2025The copper price in USD per ton since 2015 is rising within an upward (green) trend-channel with consolidations (red) followed by strong acceleration phases (yellow) suggesting that the correction since 2021 is coming to an end and that a new strong price increase is poised to start once the red resistance is broken and transformed into new support. Analysts in early 2024 are forecasting a strong price increase of +75% to reach $15,000 USD/t to spur new mine developments (Goldman Sachs predicted this price level already in 2021 to be reached by 2025, whereas mining magnate Robert Friedland also said in late 2023 that this threshold is needed as an incentive for new copper mine developement projects to be realized).
MCX:COPPER1!Long
by RockstoneResearch
Copper shark attackIf you trust the recent 9/20 day moving average crossover enough to short copper, today's bounce back toward the 9MA might be a good one to sell. When setting a profit target to the downside, a harmonic trader could project a shark with its C-point (D-point in the diagram) in the neighborhood of 3.5365 (red circle), for about a USD0.25 profit per contract. This would work out to USD625 for the mini contract or USD3125 for the full contract. If the shark went on to complete by drawing a full CD leg (green arrow to green circle), that would be another USD0.25 to the upside.
COMEX_MINI:MHG1!
by SwingWaiter
Sell march copper 383.60. Stop 386.90, tgt 372.80Sell march copper 383.60. Stop 386.90, tgt 372.80 Copper closed below a key support level **Trading commodity futures and options involves substantial risk of loss. The recommendations contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not indicative of future results** hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown. in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. one of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. in addition, hypothetical trading does no involve fina ncial risk, and no hypothetical trading record can completely account for the impact of financial risk in actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. there are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results.
COMEX:HGH2024Short
by Cannon-Trading
COPPER : REBOUND- The market registers higher peaks and bottoms, trading within a bullish channel since the end of October 2023, the medium-term trend is therefore bullish. - Very recently, prices recorded a 4th impact on their bullish trendline, following a sell-off since the failure below the $397.40 area. A strong positive reaction is currently recorded in the shape of a piercing price pattern, following a bullish divergence registered by the Stochastic indicator. - This is a bullish rebound situation. Indeed, bullish investors appear to be numerous and powerful enough to prevent the market from breaking its downward trend line. The next targets can be located at $387, $391.10 then $397.40 and finally above $400 by extension
CLong
by ActivTrades
COPPER: Long term sell signalCopper is bullish on its 1D technical outlook (RSI = 59.350, MACD = 0.033, ADX = 19.471) as it is at the top of the 2023 Channel Down, but having failed to cross over it, opens the way for a big decline in the first quarter of 2024. As you can see the Channel Down that started last January looks very similar to the one in 2012/13. Both emerged after a Global peak and then rejection to an oversold 1W RSI bottom. It is very interesting how similar the ranges are, both Channel Down bearish legs have been around -18.50%. We are turning bearish on the most optimal technical level and aim for another -18.50% decline (TP = 3.2500) or up when the 1W RSI gets oversold (under 30.000). See how our prior idea has worked: ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
COMEX:HG1!Short
by InvestingScope
COPPER Correction to accelerate lower.Last time we looked at Copper (HG1!) 1.5 months ago (October 24), we caught the most optimal bottom buy signal: The price action didn't only hit our Target but also broke above both the January 18 2023 Lower Highs trend-line and the 1D MA200 (orange trend-line). The rejection that took place on Monday though, is giving rise to a new Falling Wedge pattern with the current Bearish Leg on full display. The bearish signal is already confirmed as the 1D MACD has completed a Bearish Cross, and so far the sequence is very similar to the August 01 rejection. As a result, we are bearish on Copper, looking to take advantage of today's green 1D candle and short near the closing in anticipation of being close to the peak. Our short term Target is 3.6100, which is the 0.786 Fibonacci retracement, a symmetrical level where the price bounced on August 17. Selling can only be extended if the green Support Zone breaks. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
COMEX:HG1!Short
by TradingShot
Copper on the Verge of a Break-Out!Copper futures have experienced a noteworthy trajectory, influenced by various market factors. The bottoming of 30-year bonds in late October, resulting in lower yields, has coincided with a rally in copper prices. Interest rates play a pivotal role, acting as a major headwind to construction spending and financed projects, thereby augmenting demand for copper. A significant driver for the copper market has been China's industrial production figures for October, surpassing expectations with a 4.6% increase compared to the anticipated 4.4%. This positive data has added conviction to the strength of the copper market. Traders are eagerly anticipating the release of the next Chinese Industrial Production numbers on December 14th for further insights. Headwinds for Copper: The upcoming week presents challenges for risk assets, and the interest rate environment, as various job-related data such as ADP Nonfarm, Avg Hourly Earnings, Unit Labor Costs, and the Unemployment rate are scheduled for release. The evolving credit cycle poses potential benefits for commodities, with copper serving as an indicator for the economic landscape. Support & Resistance Levels to Watch: To witness sustained strength in copper, market participants are keenly watching for a break and close above the critical level of 3.92-3.96. Should we gain traction above this level, the psychologically significant 4.00 level looms as the next significant hurdle. The intricacies of copper futures reflect the intricate dance between economic indicators, global production figures, and the evolving credit cycle, and will continue to be a closely watched commodity in the new year. Check out CME Group real-time data plans available on TradingView here: www.tradingview.com Disclaimers: CME Real-time Market Data help identify trading set-ups 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 *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
COMEX:HG1!
by Blue_Line_Futures