14th Aug 2018
FUNDAMENTAL ANALYSIS
The analysis that follows in my discussion is quite deep, be prepared for some solid insight into the market for commodities, global economic analysis and the current situation of this 'trade war'. As such, I will endeavour to succinctly tie up fundamental and technical analysis to provide you with a good understanding of the ...
Copper was doing good during last two years as it rallied from sub-2 to above-3 levels.
But the structure is corrective so the wave C finished the correction being equal to wave A by size.
Then we saw a breakdown below the white support this March.
After that there was a healthy pullback, which was rather menacing as it almost broke the earlier top but failed just ...
I think we've reached a point where the huge spread between oil and copper will close, this type of scenario favors an $AUDCAD long position. The chart is constructive already, so, it could end up flashing a nice trend signal from here. I'll be looking to enter longs at market open, and exit once the spread is closed once more.
You could also trade the pair, long ...
#COPPER
cmp $2.743
Target 2.46
Stop 2.85
Rectangular consolidation range broken.
Post break, flag formation.
Any uptick till 2.80 is a shorting opportunity for a target of 2.46.
Potential long position forming with Copper on daily chart. Using simple wave analysis, Ichimoku overlay, OBV and MACD indicators, signs of a trend reversal in Copper are showing adequate confluence. The daily chart for copper is a good example of plotting Elliot waves. As you can see, ABC corrective waves has fallen between impulsive waves 3 and 4. This is a good ...
As previously discussed in other post I expected Copper to correct quite a bit. I was expecting the 2.44-2.60 area because of many confluences. However, we have completed an ending diagonal pattern that pushed to 2.86. Now we have come down to my expected support area based on fractals and fib levels, which we are now holding. Also, if you look at the USDOLLAR we ...
A very simple, crystal clear buy setup in copper. Price was rejected at a previous support and resistance parallel of the rising channel, giving us a very nice buy setup
Copper is on important crossroads. It has so far rebounded on the 1st 1W support at 2.69388. This is a medium term bullish signal towards 2.85479 as 1D is already easing the previous oversold MACD = -0.081, Highs/Lows = -0.0468, B/BP = -0.1300. 4H is already on neutral STOCH, ADX, Williams, Highs/Lows, steady enough to sustain this bullish counter-leg. The current ...
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I expect Copper to produce more of a correction here at least. I would look for buy setups. It came off the 1.618 extension and just gave a very simple 3 wave. Should be a nice buy coming on this but we are likely still in correction so manage properly.
- Breaking downtrend (purple line)
- I am a buyer at confirmed breakout of first Retracement level (yellow line)
- Volume Profile suggest we could see the price move from current levels to 2.83 and even 2.9 with little resistance (according to 1D volume profile)
- This kind of attempted breakout, seems to common amongst the commodities complex.
Counters:
- as ...
I just realized the Copper suffered a big drop and well, I'm wondering if we see no longer lovers on copper. The red metal dropped more than 18% since June and metals are accelerating a selloff over fears that the trade fight between China and the U.S. will dent economic growth, stunting demand for raw materials. At the moment China is a very peaceful actor, but ...
Taking a look at something other than Crude Oil for a change.
It appears that Copper is out of a 10 year bear cycle and a bull cycle started in 2016.
A look at the beginning; you can see wave 3 hit the 4.618 extension of wave 1 perfectly and then corrected perfectly to the 0.236 level for wave 4 > https://www.tradingview.com/x/ydzTk1dg/
If you add in the ...
