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COPPER1! trade ideas

$HG1 $Copper ABC correction complete I am calling the bottom in copper price and price just bottomed on Aug 19 (which incidentally is also when spx made the bottom). The bottom on Aug 19 is also the support level in March 2021 around 3.9585. Aug 20 current price is sitting above MA200. which is a positive sign but we really need to get it above MA50 and the rest to go full on bull from here. However, if it breaks 3.9585 then it could go a lot lower. Copper and Gold tend to move in opposite direction and generally gold is used as a hedge against recession and inflation, and copper is an indicator of economic activity. I am expecting to see price to move up from here.
COMEX:HG1!Long
by fredpui
Copper Futures - Below It's 100-Day SMAAt $4.58 in May, amidst the commodities euphoria, I mentioned that investors should know when to 'get off the bus'. You may recall the monthly chart giving us a signal at $2.31 in May 2020. Copper just so happen to make it's short term peak the following day with the price now below it's 21 & 50-EMA as well as it's 100-SMA. Caution if the short term incline is breached. 14-Day RSI at 44, a bearish trend. Downside risk elevated below $4.23. Current: $4.29
COMEX:HG1!
by LD_Perspectives
1
JICPT| Copper on the verge of another breakout again!Hello everyone. Copper is a leading indicator that I like to review from time to time. My previous breakout projection worked well. However, it fell back again formed a higher low, indicating strong momentum. So, basically this is a momentum play. I also searched other clues as an odds enhancer. Below is the line chart of copper and Us 10Y yield. It clearly to see that the two has been in the same direction for sometime in general. The reason behind this is the recovery of the economy. Though, supply and demand is another key factor impacting copper's price. After the breakout, the nearest target is 4.63 . With the continuation of the economy recovery, I'm bullish on copper. The nerve zone for me is 4.7 and above. What do you think? If you're with me, don't hesitate to give me a like.
COMEX:HG1!Long
by JICPT
Copper Rises to Resistance as Supply-Side Issues Heat UpCopper prices are seeing some upside movement as supply-side issues intensify. Codelco's Andina mine in Chile saw workers go on strike after mediation talks fell through. This adds to labor tensions in the major copper-exporting country, with workers at BHP Group's Escondida mine still negotiating a new contract as a possible walk-off looms. Meanwhile, workers at a JX Nippon Mining & Metals owned mine, also in Chile, went on strike this week. Prices are now at a descending trendline formed off the July swing high after rising off the 61.8% Fibonacci retracement. Moreover, the 50-day Simple Moving Average (SMA) looks to be providing a degree of confluent resistance. Breaking above the trendline may open the door for an extension higher.
COMEX:HG1!Long
by Thomaswestw
$FCX - Inflation hedge + Infrastructure play w/ technicalsLots of investors typically look to precious metals such as Gold, Silver, Platinum or Nickel when hedging their portfolios to protect against inflation (unless you're Peter Schiff, then you're all in.) Some analysts believe Copper has more upside than its counterparts. Outside of just existing, it does have many uses and is commonly used in construction. From houses to communication wires to electronics. Copper is everywhere. It's not too farfetched that with the infrastructure bill going through, that demand for this precious metal will increase. As it stands now we're already in a Copper shortage, the last few years has proven that the current supply can not keep up with demand. From a technical perspective, FCX on the Daily time frame is nearing the breakout point of an inverse head and shoulders. HG1!, Copper Futures, is in a bullish pennant. It formed a pinbar off of the golden pocket and held the support of the pennant. Both of these, technically speaking, are set up to breakout. CPI numbers came in as expected today but often times charts and real life events line up so we will see how the next report does. Currently in $FCX calls for January. Warwick OptionsSwing Analyst
COMEX:HG1!
by optionsswing
New trading Strategy upgrade - CopperHi traders, this is my personal trading idea only. Please give an AGREE/ LIKE, my trading strategy is Price Auction - Chart only, I don't use indicators, MA, signals and trend line etc. Your comments are highly welcome. We need a relax and happy trading with happy ending on each trade. 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. Good luck guys. Sell at M15-M15 and buy on H1 chart
COMEX:HGU2021
by QQGuo-Shane
COPPER trade idea.Analysis: Copper is in a strong uptrend, but we had 2 cases when the price rose stronger than expected. I market the 2 expansions with the green zones. I do not say that the bullrun is over, but I wont recommend to trade with large positions since the current market structure is neutral. The current potential risk reward ratios on short and long positions are quite bad. Right now it's too late to buy and too late to sell as well. I am waiting for a much clear picture before I will open a new trade. Conclusion: Neutral
COMEX:HG1!
by tmsarn