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CU1! trade ideas

COPPER FUTURES (HG1!), H4 Potential for Bearish DropType : Bearish Drop Resistance :3.5785 Pivot: 3.4160 Support : 3.2760 Preferred Case: On the H4, with price breaking the trendline and moving below ichimoku indicator, we have a bearish bias that the price will drop to the pivot at 3.4160 where the swing low support, 78.6% fibonacci projection and 161.8% fibonacci extension are. Once there is downside confirmation that price has broken pivot structure, we would expect bearish momentum to carry price to 1st support at 3.2760 where the pullback support and 78.6% fibonacci retracement are. Alternative scenario: Alternatively, price could rise to 1st resistance at 3.5785 where the pullback resistance is. Fundamentals: No Major News
COMEX:HG1!Short
by Genesiv
Copper OutlookFirstly, historical trends on Copper price are extremely important to understand. As we can see from the chart, Copper has been in an ascending channel with an 8% trend angle since 1988. In March 2020, a well-developed bullish triangle ended a decade of corrective action. Corrective waves of the same degree are more closely related to each other than impulses are and this can clearly be observed here. In addition, both primary corrective waves (2 & 4) lasted for nearly a similar period, the 2nd correction with a flat ABC structure lasted for 12 years (1989-2001) while the 4th correction (2006-2010) nearly lasted14 years. There are five waves in a major movement that can be identified. Completion of the fourth implies that the fifth impulsive wave is now underway and this simply gives an early signal that Copper prices could be pointing towards amazing highs. The intermediate count is a lower degree illustrating a possible completion of the second correction in a lower degree and this is always an amazing sight to see since the next wave (3) of 5, may be equal to, or 1.618 times the length of (1) in 5, cannot be the shortest wave and is usually steeper than the first wave. As a result of the anticipated thrust, we may see an overthrow from the main ascending channel over the next few years, driving prices to $7.80/lb or at least $6.69/lb (1.618 Fib retracement level). A confirmation level is highlighted in chart at $4.88/lb. Disclaimer: The information provided here is only for educational purposes and should NOT be taken as investment advice.
COMEX:HG1!Long
by Timgucci
Copper Futures (M6E1!), H4 Potential for Bearish DropType : Bearish Drop Resistance : 3.6500 Pivot: 3.5315 Support : 3.4115 Preferred Case: On the H4, with the price breaking the ascending trendline and ichimoku cloud , we have a bearish bias that the price may drop from the pivot at 3.5315, which is in line with the 78.6% fibonacci projection and 61.8% fibonacci retracement to the 1st support at 3.4115, where the 50% fibonacci retracement and swing low are. Alternative scenario: Alternatively, the price could rise to the 1st resistance at 3.6500, where the pullback resistance is. Fundamentals: The copper price fell as the market worries about demand in China surfaced due to weak economic data and a firmer dollar. Meanwhile, Chinese property developers sharply cut investment in July, while new construction starts suffered their biggest fall in nearly a decade.
COMEX:HG1!
by Tickmill
Copper Futures (M6E1!), H4 Potential for Bearish DropType : Bearish Drop Resistance : 3.6500 Pivot: 3.5315 Support : 3.4115 Preferred Case: On the H4, with the price breaking the ascending trendline and ichimoku cloud, we have a bearish bias that the price may drop from the pivot at 3.5315, which is in line with the 78.6% fibonacci projection and 61.8% fibonacci retracement to the 1st support at 3.4115, where the 50% fibonacci retracement and swing low are. Alternative scenario: Alternatively, the price could rise to the 1st resistance at 3.6500, where the pullback resistance is. Fundamentals: The copper price fell as the market worries about demand in China surfaced due to weak economic data and a firmer dollar. Meanwhile, Chinese property developers sharply cut investment in July, while new construction starts suffered their biggest fall in nearly a decade.
COMEX:HG1!Short
by Genesiv
Copper Commodity USA Sun Storm Investment Trading Desk & NexGen Wealth Management Service Present's: SSITD & NexGen Portfolio of the Week Series Focus: Worldwide By Sun Storm Investment Research & NexGen Wealth Management Service A Profit & Solutions Strategy & Research Trading | Investment | Stocks | ETF | Mutual Funds | Crypto | Bonds | Options | Dividend | Futures | USA | Canada | UK | Germany | France | Italy | Rest of Europe | Mexico | India Disclaimer: Sun Storm Investment and NexGen are not registered financial advisors, so please do your own research before trading & investing anything. This is information is for only research purposes not for actual trading & investing decision. #debadipb #profitsolutions
COMEX:HG1!
by Sunstorminvest
Dr Copper .. rev s-h-s targets $400 to catch up with S+P On it own, copper is near completion of a rev s-h-s targeting $400 area, and that may be enough technical justification to go long here, hoping for the imminent break out. Look at it vs S+P and you see there is already a lot more optimism building in the (US) equity markets and I guess that makes sense, as China is facing great difficulties and Europe is equally challenged by extreme energy prices and geo political instability. Obviously, thanks to President Biden, we are seeing the US pass hugely important legislation on energy use transition. I would say, prices are there to be respected and copper is certainly testing the last of the eco-Bears out there. Maybe give it a few more $ to the upside to see that neck line breaking for confirmation. Incomplete s-h-s are typically quite treacherous but it seems to me there is good fundamentals behind this too.
COMEX:HG1!
by zijdenboseric