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COPPER1! trade ideas

Price action on #Copper $HG The narrative around copper is very compelling. 1) $5T of Government spending in the next 10 years for renewable energy development 2) Electric cars 3) Miners underinvestment in recent years What this says to me is the simple fundamentals from miners...limited supply would be enough to extend this commodity bull cycle. Beyond that...we have car manufacturers making bold moves to have a majority of their fleets electric within the next 10 years. European and California carbon credits markets are becoming more developed...producing incentives for companies to move towards greener technologies. Whether you agree with the politics of it or not...it is happening. And massive government spending on renewable energy. What does all this green stuff have to do with copper? All these need copper...and lots of it! With just experiences a 50% retracement from the May 21st high of 4.5815 and made a double top with divergent RSI this morning. Zooming in we can see some impulsive buying around the $4.5 area. The long term trend in copper looks very promising. Could it go lower? Of course...but today's price action has me watching very closely.
COMEX:HG1!Long
by cwmetz
HG needs a significant correction before next leg up. Risk/reward in short and medium term is not playing in your favour. Copper has been extremely overextended in last 12 months. Current up wave was huge but I think we need to see a correction. Looking at a weekly bars and although new commodity/metals super-cycle has theoretically just begun but we should see a significant declines and profit taking before next leg up. If inflation fears will materialize, copper, just like most of the metals should see much higher prices in a long term. But for now if you want to build your position for next 5-10y, wait for correction. My take on copper based on HG futures chart.
COMEX:HG1!Short
by Leree123
Copper passed 10Y high in crazy mode with inflation issue ahead!Hello everyone. The previous bullish setup of copper worked very well. What's behind the bullish setup other than technical structure? It's inflation! It looks a dead loop! The disappointed employment data released last Friday obviously postponed the time of interest rate hike. That's good news for stock market temporarily at least. We can see how NQ reacted to it. However, investors started to realize that we got an issue here this time. After one year of incredible loose monetary policy, things are becoming expensive. If you check the property prices around the world, you will know what I mean. Let's take New Zealand for example, property prices has surged by approximately 20%. That's a signal. Look at crude oil rebound from negative price to $65 per barrel. The list goes on and on. Copper is just one of them. It surpassed its 10Y high recently. Look at the rising angle. It's crazy. How long will it go up in that way? I don't know. What I know is that copper is wildly used in our daily life. The surge will lead to prices of other things to go up. In the end, everything becomes expensive. Don't worry. until now, the inflation is still low. My personal warning line is 4%. If the PCE is firmly above that level, shit will happen. Central banks are likely to raise interest rate to handle the inflation issue. What if the economy still in the deep shit? I really really hope that won't happen. If it does, buy gold, properties, commodities and reduce your exposure to stocks, bond and cash. Will the economy back to track before inflation rise? Let's see!
COMEX:HG1!Long
by JICPT
COPPER ATH! WOO HOO!No point TA'ing this one, It's an All Time High. Which means anything could happen, we could crash to the bottom of the ascending channel, or go to $6. My money is on $6. All an "ATH" tells me is now that the price broke higher, it can, and probably will, meet the highest price again. Just publishing this one because I think everyone needs to know how valuable Copper is right now, increase that awareness. Wish you had have bought at $2.5? Don't worry about, just grab any motor or gadget that someone is throwing out, you could own copper for free. and why not, people throw Gold!/Silver!/Copper/Nickel/Zinc/Palladium!/Platinum!/Brass in the bin all the time. Is it worth it? ahh, Hindsight is worth it. Check out my Silver Price prediction. Those are your reasons for Copper going up in value.
COMEX:HG1!Long
by BlakeWissemann