Week 35 copper, gas, nasdaq, coffee, crude oil, sugar longMany markets trade above their 18 moving average, i keep the trailing the stop on the lowest low of the prior two days.
Last week BTC got stopped …
This week copper might be moving up…
CU1! trade ideas
Copper at Critical Level - Will Bulls or Bears Win? Copper is looking to reestablish prior trendline support, which would put the red metal back on a bullish path. Although failing to pierce the level would likely see prices fall back to the psychologically imposing 4.000 level. Momentum appears to be healthy with RSI rising and the MACD line crossing above its signal line, a bullish sign.
Copper prices may turn lower after re-testing former supportCopper prices are retesting support-turned-resistance in the 4.26-4.45 zone, marked by the intersection of a six-month inflection area, the uptrend from the Covid-induced March 2020 low, and a neckline support from early March. Signs of indecision in the daily candlestick structure and negative divergence on short-term momentum studies warn of topping.
In all, the setup suggests that a corrective upswing following a major bearish breakout has run its course, with the emerging downtrend aiming to reassert itself in the near term. The first major layer of support lines up near the 4.00 figure. Fed-speak at the Jackson Hole symposium - particularly the speech from Chair Powell - may emerge as the catalyst for weakness. A measured-move projection implies a move below 3.40 may ultimately materialize.
COPPER COMEX HGcopper sellllllllllllllllllll only chek chart enjoy mandi bindas baki jada likhana mana hai #KRRISHCOMMODITIES
Copper Futures Short Term Reversal TradeThe Commodity has reached lower trend line and might take support and undergo a reversal rally. Trade is supported by Supports Nearby + 200 EMA.
Risk Reward Ratio - 1.5:1
SL is placed below support zone and target is placed near upper trendline and swing high.
Note : Enter September Futures and Roll Over the contracts unless Stop Loss or Target Is Met.
Copper into JacksonCopper: Market Commentary 23.08.2021
A couple of points to note here; we ticked the 161.8% extension which was our third wave target in our previous copper chart at the beginning of 2021.
It always comes down to the same situation; an impulsive complex which can be called sound, but which has one sickly component. As we head into Jackson, according to the long term wave count we have the following two charts which distinguish the five wave sequence:
So now buyers are a point up after sweeping the highs, they are in a position to take profits over the coming months and quarters and bring together their own herd again at 3.33x lowest play the fifth wave inside of our major third wave.
So far we have done a good job of shepherding the flows in copper as all has been predicable on the technical side; here looking for 3.33x before a slingshot towards 5.50xx in 2023.
COMEX Copper - Head and Shoulders complete. Expect rejectionCOMEX - Copper- Futures Head and Shoulders complete. Expect rejection from 4.24. If it SRF's (support resistance flips) the neckline then Target 1 becomes 3.60.
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.
$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.
BUYHG reached to high volume area and forming double bottom .
Now bulls should defend their position so I expect nice move up.
I will take long for swing with tight SL because currently the bears are in control.
Copper still shorttoday was another re-entry possible either before 9 am or directly at 9 am ET time.
General setup is to short if price is below 18 Moving average on the daily chart on a break below two days low.
Seasonality is supporting a down move even though Commercial Traders COT are still net long...
New trading strategy upgrade - CopperCopper is on a correction and ready to drop down. Let's see how it build a strong buttom before go up.
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
New trading strategy upgrade - Wait & sell, don't miss this good opportunity. Let's wait price searches its up resistant then sell it.
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.
XCUUSD might hit USD4.00 soonThis trend line could be broken very soon and the move to previous YPP resistance will be very swift.
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.
$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
Copper Futures : H1 Short (Price Action : LH + LL)Downtrend continues in Copper, there is no sign of Higher High or Higher Low yet. It seems the copper futures chart is behaving very well making enw LLs and LHs and respects previous resistance.
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
Copper Daily Futures PredictionShort Term Breakout on daily Copper Futures charts. Copper is trending from March 2020
