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CFDs on Copper (US$ / lb)CFDs on Copper (US$ / lb)CFDs on Copper (US$ / lb)

CFDs on Copper (US$ / lb)

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Copper ~ Help Me Obi-China, You're My Only Hope (2H)CAPITALCOM:COPPER chart mapping/analysis. Copper - off its October lows, yet still contending with global macro headwinds & China's difficulty in shaking off its deflationary economic funk.. Trading scenarios into EOY: Prelim trading range = ~3.93 - ~3.73. Under bearish pressure from 38.2% Fib rejections. Bullish reaction to China/macro economic news = bounce off lower range of parallel channel (green) + 200SMA confluence support / break above 38.2% Fib / break above ~3.93 upper trading range. Bullish extension target(s) = 50% Fib / upper range of parallel channel (green) confluence zone. Bearish reaction to China/macro economic news = break below ~3.73 lower trading range / lower range of parallel channel (green) / break underneath 200SMA, becoming dynamic resistance. Bearish extension target(s) = 23.6% Fib / lower range of descending parallel channel (light blue).
CAPITALCOM:COPPER
by BlueHatInvestor
Long therm trade, low risk Long term trade opportunity. If this week after the CPI announcement the candle remains bullish with a high volume and a close price closer to the high of the candle, then the probability of having an all-time high in Copper is very high because it is a very bullish seasonal trend in December, January consolidation, and February and March very bullish price again (the strongest bullish trend of all copper in the year. + is a very large increase in open interest of the futures contract that follows (not the current one)
FX:COPPERLong
by REnastere
Copper-Elliot wave counts and market structureI have earlier posted a daily chart on Copper sharing my views on this commodity and stating that it is now in wave 3 structure and will be slowly advancing towards 4.67$ mark going into 2024. By referring to that chart you can get a better understanding of this chart since that talks about a bigger picture about what to expect from this commodity. Coming to this chart, the metal made a leading diagonal(Elliot wave theory) between 17th Oct and 6th Nov. That is marked as wave (i). After an impulse gets completed it is always followed by a corrective wave which can retrace even upto 90%(but never 100 if the prior wave was impulsive).In this case the wave (ii) retraced 50% of wave(i) from 6Nov. till 13Nov. A new impulse was again set in place on 13th of Nov. The Elliot wave theory is a very accurate and the most logical way of looking at the market structure and getting an understanding of how the price moves. Once you start to look at the market from the Elliot wave perspective you will start believing that whatever happens in the market is never random. The market always has a structure and logic, which many a times we as individuals may not spot(immediately) and that only means we need to up our game to try and understand this beautiful market place. The purpose of this chart was not only to talk about copper and where it might be headed, but was also to give an insight to all about how i approach the charts and what are the points that i look for. Note*- This chart is for educational purpose only
CAPITALCOM:COPPERLong
by neeraj_2_sharma
copper towards new 52 weeks high in 2024?The commodity has been in a corrective phase well from the beginning of 2023 which now seems to be coming to an end. This could mean new 52 week high for the commodity by early 2024. in terms of Elliot wave structure the stock is currently in wave ii of wave 3. The up move to be looking forward to would be the wave-iii-3 which could well take the commodity price to 4.65-4.67 from the current levels. on the downside the sept 2022 low of 3.24 should hold and not be breached for the analysis to hold. note*- this is an educational post only
CAPITALCOM:COPPER
by neeraj_2_sharma
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