HISTORY: Southern Copper Corporation ("SCCO/NYSE") is one of the largest integrated copper producers in the world. They produce copper, molybdenum, zinc and silver. All of their mining, smelting and refining facilities are located in Peru and Mexico and they conduct exploration activities in those countries and in Argentina, Chile and Ecuador. Their operations...
Entry point for Copper CALL position until the end of the day at 10.00 Moscow (07.00GMT)
#Copper bearish in the short term There are signs of weak demand from China main importer and consumer of metals in the world, growth has slowed significantly in recent months with an expected growth of around 7%; PMI recent data have impacted copper prices downward. Today we expect the manufacturing PMI remains at 49.6, under the 50 mark, warning of stagnation of...
Price is showing an uptrend leg time expiration, with a very bearish down bar taking the highest low of said leg, right as time expires. RgMov clearly shows an ABC move down, currently in wave 2 of C top. This is a great hedge play for the NZDUSD long idea I posted earlier. Good luck! Ivan.
Deteriorating demand expectations has induced volatility in price of copper, however, has recovered steadily around 8% of its value in the last two months. China main importer and consumer worldwide has seen fall its HSBC Purchasing Managers' Index (PMI) from 50.7 in February to 49.6 in March, signalling to Renewed deterioration in the health of the sector....
There's a potential falling wedge developing here. I suggest going short if price travels under the highest low. If it overshoots the trendline, then I'd be skeptical. Watch it during the coming days.
Poor prognosis for growth indicators in China persist, this afternoon PMI manufacturing in japan and China are published, a further fall in relation to the value of the latter indicator is expected, so it is anticipated that copper will also fall with a similar intensity to monday of last week, finding support in the average of 100 periods. PMI index Purchasing...
Description on chart. Once the limit sell is triggered, we can aim to cover half at the previous low, which turns this trade into a risk free operation. Good luck!
Copper resisted to drop farther, despite some potential to fall down to 2.10 - 2.00. The reversal at this point signifies copper should rise and break above 3.00. The 4.40 is the next target in 12-24 months.
Strike Workers this week in Grasberg (Australia) – the world's second largest copper mine by capacity – Reduction of mining projects in Chile, and Chinese inventories that fell for the first time in two months, a signal that demand in the top metals consumer is slowly recovering after a holiday. Have made that Copper prices jumped to a two-month high on Friday....
China is the world's largest copper consumer, accounting for almost 40% of world consumption last year. The National Bureau of Statistics said in a report earlier in the day that home prices in China declined in 66 of the 70 cities tracked by the government in February from a month earlier. New home prices slumped 5.7% on year last month, following a decline of...
I am awaiting copper to breakout from here then perhaps rejoining a retest to the downside. Copper is currently trading at range-bound for now and the path of least resistance for me seems to be to the downside.
Is the Euro at the same point now gold miners were last November and Copper was in January? The Euro is following a remarkably similar pattern to the one the gold miners had from July until November last year. Will it continue to act in a similar way for the next few...
Is it me or is SCCO starting to look interesting ... finally ... was January the bottom, the capitulation, looks like it.