Technical Analysis: As you can see, there exist a hidden Bullish Divergence with MACD which is the sign of bullish trend continuation as Copper has started its bullish wave since March 2020. It is moving in an ascending channel. We draw Fibonacci retracement from the low to the top of last impulsive wave which are defined as the Fib levels on chart. The commodity...
Metals to Break its All Time High. I have discussed about Gold before and in this tutorial we will study into Copper. From last week Fed chairman statement, he said “it is premature to be talking about pausing our rate hike. We have a ways to go." The continuous inflation is almost a certainty into next year, and what asset or instrument works well with...
Providing Weekly Support and Resistance levels for next coming week based on Central Pivot Range and its major support & resistance levels of week, where price can take support and face resistance. Three black lines indicating weekly Central Pivot Range. Previous week high & low also performs as a major support and resistance levels. Can take long & short...
Massive daily green candle broke out of 3-month pennant and gaussian channel after bouncing off multiple moving averages, most importantly the 200 week SMA. The move also has the highest volume since March. Long RSI trend has been broken too. Back in July, I called for a bottom and an accumulation phase for copper (See Below). It played out. Price needs to take...
I think ascending triangle with thin zone above sets up a quick move to $4
Copper Linear Mode Hourly/Monthly With the recent breakdown in gold it seems unlikely to expect appreciation in copper although this chart suggests otherwise. Is copper about to become the new gold ? The Monthly chart shows copper has completed a wave 4 pattern at the lower channel as shown. On the hourly chart prices are currently printing a bullish pattern...
Copper CMP 653.5 Looking at the chart, As long as we hold 645 levels we can see price moving towards green lines which is 707.5/730 levels Vedang :) Chart is for study purpose only
Hello ladies and gentlemen, according to my graphical analysis of The copper Futures, there is a high probability of going to 4,13$ in the next few weeks.
I have a long-term positive outlook on the industrial metal sector given the increase in demand towards the electrification of the world. I expect a dampening in shorter-term prospect however a renewed surge to fresh record high's in the new year by miners around the world, most notably from Central and South America as well as Africa. This will lead to copper...
Looking at the weekly volume, I would say early investors are selling a lot of shares to rotate into names that haven't moved yet.
Copper on the weekly time frame appears to be carving out a five wave decline as the wave 4 high at 3.7930 holds a minimum downside objective of wave five equaling wave one provides a downside objective at 2.8435. The wave 4 on the daily time frame is creating a descending triangle pattern a break of 3.1380 warrant short exposure to target the wave 5 objective.
Copper prices may remain under pressure in the coming months due to investors' apprehension about China's growth prospects in the wake of the 20th National Congress of the Chinese Communist Party, which disappointed the market. Since September, copper prices have fluctuated within a relatively narrow range (3.2-3.6) after the earlier sharp declines occurred this...
I will be accumulating Nova Royalty Corp👑 shares in the BUY ZONE 2.1-1.8 USD, as I think this zone will provide strong support. My 1st target will be 4.8, 2nd 9.8. ENTRY : Buy in the 2.1-1.8 USD zone SL : no SL, it's rather investment than trade TARGETS : 4.8, 9.8 Like👍 & Enjoy📺!
SOUTHERN COPPER CORPORATION Short Term - We look to Buy a break of 48.98 (stop at 45.51) Price action produced another positive week, last week. Trading within the Wedge formation. The bias is to break to the upside. A higher correction is expected. Our profit targets will be 58.22 and 60.00 Resistance: 48.90 / 60.00 / 80.00 Support: 46.80 / 42.00 /...
Type: Bearish Momentum Resistance: 3.5875 Pivot: 3.3815 Support: 3.2415 Preferred Case: The H4 price is in a downward trend and crossing below ichimoku cloud. The price may drop form the pivot at 3.3815, where the 61.8% fibonacci retracement is to the 1st support at 3.2415 where the swing low and 78.6% fibonacci projection sits Alternative scenario: If there is...
Copper prices are at risk of moving lower as an inverted handle takes shape following an inverted cup. The Inverse Cup and Handle pattern is an inherently bearish formation. A break below handle support would threaten the 3 psychological level.
In the following charts below, we will highlight why copper looks interesting to us right now. Firstly, the Copper Outright prices (orange) vs the Calendar spread (black). Copper calendar spread tend to move in-line with its outright prices, until major turning points, when the calendar spread leads the outright price movement. In February 2022, we observed the...
Copper is stronger than gold for the moment. Rising volume on rising ratio...gold falling has done this, copper holding its own against the dollar. More systemic problems and this ratio would fail the trend line. Falling interest rates would likely make gold surge not so much for copper if it is a negative economic event. If the event precipitates the falling...