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COPPER1! trade ideas

Copper Futures (HG1!), H4 Potential for Bearish DropTitle: Copper Futures (HG1!), H4 Potential for Bearish Drop Type: Bearish Drop Resistance: 3.6920 Pivot: 3.5545 Support: 3.3840 Preferred case: On the H4 chart, we have a bearish bias. To add confluence to this, price is under the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to possibly break the Pivot at 3.5545, where the 61.8% Fibonacci line is, before heading towards the support level at 3.3840, where the previous swing low is. Alternative scenario: Price may go back up towards the resistance line at 3.6920, where the 38.2% Fibonacci line is. Fundamentals: There are no major news.
COMEX:HG1!
by Tickmill
Copper Futures (HG1!), H4 Potential for Bearish DropTitle: Copper Futures (HG1!), H4 Potential for Bearish Drop Type: Bearish Drop Resistance: 3.6920 Pivot: 3.5545 Support: 3.3840 Preferred case: On the H4 chart, we have a bearish bias. To add confluence to this, price is under the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to possibly break the Pivot at 3.5545, where the 61.8% Fibonacci line is, before heading towards the support level at 3.3840, where the previous swing low is. Alternative scenario: Price may go back up towards the resistance line at 3.6920, where the 38.2% Fibonacci line is. Fundamentals: There are no major news.
COMEX:HG1!Short
by Genesiv
COPPER looks doomed on the long-term. Sell the rallies.Copper (HG1!) on the 1W time-frame appears to be repeating the previous major Bear Cycle that started in 2011/12. Based on this fractal analysis, the recent 1W rejection just below the 1W MA50 (blue trend-line) puts us at a proportionate level as on the February 06 2012 1W candle. Having rebounded on the 1W MA100 (green trend-line) both on the July 11 and September 26 candles, we expect initially to reach it again and then rebound to make a Lower High and form a trend-line similar to that of 2012 - 2014 that made structured Highs to sell that took Copper to the 2.000 - 1.9360 Support Zone. This long-term bearish pattern will get invalidated if the price breaks above the 0.618 Fibonacci extension, which was where (slightly below) the price was rejected on the February 06 2012 1W candle. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, 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 me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
COMEX:HG1!Short
by TradingShot
4
Copper Futures (HG1!), H4 Potential for Bearish DropTitle: Copper Futures (HG1!), H4 Potential for Bearish Drop Type: Bearish Drop Resistance: 3.6920 Pivot: 3.5545 Support: 3.3840 Preferred case: On the H4 chart, we have a bearish bias. To add confluence to this, price is under the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to possibly head towards the Pivot at 3.5545, where the 61.8% Fibonacci line is. Alternative scenario: Price may go back up towards the resistance line at 3.6920, where the 38.2% Fibonacci line is. Fundamentals: There are no major news.
COMEX:HG1!
by Tickmill
Copper Futures (HG1!), H4 Potential for Bearish DropTitle: Copper Futures (HG1!), H4 Potential for Bearish Drop Type: Bearish Drop Resistance: 3.6920 Pivot: 3.5545 Support: 3.3840 Preferred case: On the H4 chart, we have a bearish bias. To add confluence to this, price is under the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to possibly head towards the Pivot at 3.5545, where the 61.8% Fibonacci line is. Alternative scenario: Price may go back up towards the resistance line at 3.6920, where the 38.2% Fibonacci line is. Fundamentals: There are no major news.
COMEX:HG1!Short
by Genesiv
1
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
Editors' picks
COMEX:HG1!
by konhow
3
#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