Copper is in continuous ascend mode this past few days / weeks after touching an important major order block at 61.8 FIB levels. Since then, significant net accumulation has been registered on a daily basis. Expect some generous price growth from the current price range. A seed from here is ideal while it's still in a slow roll ascend -- but not for...
Pair : Copper - CU Description : Bearish Channel as an Corrective Pattern in Short Time Frame , Rejection from Lower Trend Line. Completed " 12345 " Impulsive Waves at Daily Resistance Level and making its " A " Corrective Wave. Break of Structure
COMEX: Micro Gold ( COMEX_MINI:MGC1! ), Copper ( COMEX:HG1! ), Aluminum ( COMEX:ALI1! ) 2023 is coming to an end. What are some of the biggest headlines of the year? • China’s ending of Zero-Covid gave hope to global economic recovery and an increase in commodities demand, but it was short-lived; • U.S. regional bank crisis triggered a flight to safety; • U.S....
Pair : Copper CU Description : Bullish Channel as an Corrective Pattern in Long Time Frame and Rejection from Lower Trend Line. Rising Wedge as an Corrective Pattern in Short Time Frame with Strong Divergence and Break of Structure Entry Precaution : Wait for Rejection or Breakout
Nice reclaim of the broken horizontal and channel support on the COPX Copper miners ETF. Looks like we're headed back to the top of the years trading range at 41.80 which is an approximate move of 12% from current levels. Dr Copper being a proxy for global growth is always a positive for global markets.
Copper is bullish on its 1D technical outlook (RSI = 59.350, MACD = 0.033, ADX = 19.471) as it is at the top of the 2023 Channel Down, but having failed to cross over it, opens the way for a big decline in the first quarter of 2024. As you can see the Channel Down that started last January looks very similar to the one in 2012/13. Both emerged after a Global peak...
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 =...
Last time we looked at Copper (HG1!) 1.5 months ago (October 24), we caught the most optimal bottom buy signal: The price action didn't only hit our Target but also broke above both the January 18 2023 Lower Highs trend-line and the 1D MA200 (orange trend-line). The rejection that took place on Monday though, is giving rise to a new Falling Wedge pattern with...
Pair : Copper - CU Description : Completed " 12345 " Impulsive Waves and " ABC " Corrective Waves at Daily Demand Zone. Its Rejecting from the Resistance Level to make its Impulse Again. Rising Wedge as an Corrective Pattern in Short Time Frame and Breakout of the Lower Trend Line Entry Precautions : Wait for the Proper Retracement
COPPER - Daily Keylevels These are my keylevels on Daily Time frame.
Pair : Copper - CU Description : Completed " 12345 " Impulsive Waves and " ABC " Correction in Short Time Frame. Making Impulse in Short Time Frame and " C " Correction in Long Time Frame. We have Falling Wedge as an Corrective Pattern in Short Time Frame. Entry Precautions : Wait for the Breakout or Rejection of UTL
COMEX On the weekly chart, a technical pattern has formed and the crossing confirmation above 3.85 will push the price up to 5.05 passing through several levels of resistance - shown on the chart. Trading above 5.05 for more than a month, the long term target will be 5.6 Stop loss should be considered - 3.75
There has been an opportunity that has emerged due to the recent fluctuations in currency values and the growing demand for copper exports to China. As you may be aware, the USD has been experiencing a period of weakness, while the AUD has shown signs of strength. This presents an advantageous situation, as we can leverage the stronger Australian dollar against...
CAPITALCOM:COPPER chart mapping/analysis for last week of November. TBC further details/write-up via ideas section.
Pair : CU - Copper Description : Breakout and Retest of the Corrective Pattern " Bullish Channel " in Short Time Frame and Completed Impulsive Waves " 12345 " and " ABC " Corrective Waves at Daily Descending Trend Line / Resistance Level Entry Precaution : Wait for Rejection and Retracement
I 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...
Gold is once again in the spotlight, and here’s why! Economic Cycles, PMI & Gold The US Purchasing Managers Index (PMI) is a leading indicator often used to identify turns in the economic cycle. A below 50 PMI print indicates contraction in the US manufacturing cycle, while a print above 50 suggests expansion. Generally speaking, expanding manufacturing...
Copper price continued to provide negative trades affected by the frequent stability below the additional barrier at 3.7280, to manage to reach some negative stations by touching 3.6100. Also, RSI stochastic continues to provide the negative momentum to allow us to suggest forming new negative waves to attack the additional support near 3.5000 followed by...