I love Copper. Using the Fib tool you can see some market structure that gives up promising target points.
Definition of a commodity super-cycle: Commodity super cycles are decade-long periods in which commodities trade above their long-term price trend. Technical Analysis: Using a weekly candlestick to see the bigger picture. DBC is breaking out of a 10 year long downtrend. On Balance Volume is supportive, as it is also breaking higher, reaching levels from a...
🏛COPPER is trading in an uptrend in a rising channel And as you can see on the chart number 1 The metal broke the pervious all time high with ease on the daily But then retraced back below the level While staying inside the rising channel All of the above paints a mixed picture But until the channel gets broken,I will remain bullish But further growth...
Update on my Dr Copper to Dr Silver ratio. Starting to look more true (I expected a reversal to the downside). Again, it doesn't mean #copper performs poorly, it just means #silver is going to out-perform. I still expect copper miners to obviously keep up. See second chart.
I think non-stock / non-treasury futures instruments are still trading on Memorial Day, but I will find out for sure tomorrow. If they are copper looks to be in an excellent position to consider long opportunities on the lower timeframes.
Thank you for your likes and comments! Really appreciated! This is an idea about Copper price, not a financial advice. ___________________________________________________________________________________________________ The HG1! Copper Futures have been continuously rising... almost a year. We realized that summer is coming and that this market have been beating...
In our previous analysis, we expected Copper to test the support level before resuming the bullish trend. Instead, the price started the bullish move without testing the support level. In this context, we expect a pullback to occur around the orange trendline that will act as a trigger for a bullish move that will break the previous high. Trade with care. Best...
Nice early entry for this silver/copper/gold speculation. Low downside risk
In our previous analysis, we expect Copper to start a bullish move and break the top. Instead, the price has fallen into a deeper correction. In this context, in the coming days, we are expecting a slight price increase towards the resistance area, before making another drop, having a chance to reach the support. Trade with care. Best regards, Financial Flagship ...
Stop buy 4.68 stop loss 4.25 A trailing stop should be used.
Considering how this has played out in the past and the current economic environment, we continue to pick our spots to go long copper. Not the best R ratio but as usual we can make it better once in profit by moving TP up and SL to Breakeven.
The narrative around copper is very compelling. 1) $5T of Government spending in the next 10 years for renewable energy development 2) Electric cars 3) Miners underinvestment in recent years What this says to me is the simple fundamentals from miners...limited supply would be enough to extend this commodity bull cycle. Beyond that...we have car manufacturers...
Breaking out of the falling wedge pattern. First target at the 50% fib retrace level of $0.81 with a potential to retest the lower-high trendline near $1.04.
Copper prices breaks resistance level after over a decade. Reason for this is Copper has responded to China’s industrial growth and global manufactured goods demand. Idea originated from CME and Goldman Sachs Exchange podcast - Copper is the new oil.
NYSE:SCCO We can see a wedge breakout on heavy volume, small decline and retest. Probably, it is a second chance to enter long on this price level.