Price is facing bullish pressure from our first support in line with our ascending trend line where we remain bullish above this level. A break above our upside confirmation level could provide the bullish acceleration to our first resistance target. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you...
Technical: An hour precision chart indicates possible head and shoulder formation, negative RSI. Day precision chart indicates RSI almost at its 80s and if a divergence is to be build somewhere there is a high chance it is here. Fundamental: Low stockpile of copper in China has inspired a rally but at this level of stockpile ALWAYS in the past we have seen a move...
Price is facing bullish pressure from our first support in line with our ascending trend line where we remain bullish above this level. A break above our upside confirmation level could provide the bullish acceleration to our first resistance target. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you...
The linkage between base metals and the rate differentials is unknown to many in the pseudo-classical school of TA, which believe only in absolute correlation; as you all know the supply disruptions and pandemic related closures triggered the waterfall but we are not out of the woods yet...Remember we still have the demand side shock to play into price too, this...
Hello Traders The last top can be the end of the monthly correction and we can have a downward impulse to 1.90, but my forecast is a correction and one last upward movement before that big drop. So I want to take a short trade for the A wave inside the correction. That's why I placed a pending order under the last low. My target is 0.382 retracement of the orange...
Price is facing bullish pressure from our first support in line with our ascending trend line where we remain bullish above this level. A break above our upside confirmation level could provide the bullish acceleration to our first resistance target. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you...
Support us by consulting our free daily magazines with color stock charts and weather maps on our commodity-market-review.com website. TECHNICAL ANALYSIS OF COPPER Last week, COMEX copper futures closed higher at $3.4010 per pound, the highest value since late 2013. Speculative trading is pushing copper prices higher, with net positions of the net commitments...
copper- approaching a major resistance level (the ALL TIME RESISTANCE LEVEL) We will start opening some short positions here today but carefully because it still has room to rise another 2,5% before dropping massively
Copper broke a key level and has plenty of room for more upside growth.
Price is facing bullish pressure from our first support in line with our ascending trend line where we remain bullish above this level. A break above our upside confirmation level could provide the bullish acceleration to our first resistance target. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you...
We are seeing a medium-probability bullish scenario as price is expected to climb from its upside confirmation at 3.38857 where it could potentially bounce further to at 3.43137. It is worth noting that price continues to trend above the Ichimoku cloud, which indicates bullish pressure. Trading CFDs on margin carries high risk. Losses can exceed the initial...
We are seeing a medium-probability bullish scenario as price approaches our first support area at 3.30102, where we could see a further rise at this level towards our first resistance at 3.34271. It is worth noting that price continues to trend above the Ichimoku cloud and ascending trendline, which shows bullish pressure. Trading CFDs on margin carries high...
Flat formation started in 2016 seems completed. I would expect reversal very very soon.
Copper traded on the COMEX looks bullish. Currently at 3.20 per pound, the chart shows an Eve and Adam bottom forming between 2015 and now. The expected target of this move would be 4.70 which would put the market five cents above its old high set in Feb 2011 of 4.65. From 4.65 I would expect the market to revisit the 3.30-3.60 region to make a strong bottom...
Support us by consulting our free daily magazines with color stock charts and weather maps on our commodity-market-review.com website. TECHNICAL ANALYSIS OF COPPER Last week, COMEX copper futures closed higher at $3.2910 per pound. Hope for a vaccine is fuelling the markets, and Pfizer and Moderna announced very encouraging results. Many countries, such as the...
On the back of growing demand out of China (50% of global demand), Asia recovery and general optimism from Vaccine news, Copper has reached record levels that haven't been seen since June 2018. Last night's U.S. manufacturing in November saw the quickest pickup since September 2014, driving expectations of higher base metals demand in the US for next year. Low...