The recent Nikkei rally is bringing it ever closer to that "magical" 30,000 level which it hasn't touched since the late '80s collapse. IFF a breakout occurs, expect a collapse in all XYZ/JPY pairs - since, true to form, every equity/hedge fund in the world is expected to pile in. Internal Chinese (export/import) numbers are showing a fair pick up in exports -...
Copper / 4H Hello traders, welcome back to another market breakdown. Copper seems in a sell off mode making new lows, the price is rejecting resistance fore now so I expect more lower prices to see. Trade safely, Trader Leo
It's not that I am fundamentally bearish on gold. Actually, I am fundamentally bullish on gold. But it's because I think the fundamentals of gold are bullish that this commodity is not bound to pump while the MMs have tipped their hands that they're going to sell Artificial Intelligence and Chinese Communist Party garbage to a willing horde of retail zombies and...
Copper is one of the few elements that has been used by humans for over 10,000 years. Archaeological evidence suggests that copper was first discovered and utilised by ancient civilisations as early as 9000 BCE1. Its malleability, durability, and excellent conductivity made it highly prized for tools, weapons, and decorative objects. Copper's rich history as a...
Copper hit the top of the Channel Down pattern that started in mid January and got rejected straight away. The 1D time frame already turned neutral (RSI = 51.361, MACD = 0.023, ADX = 28.747) and if the price crosses under the 1D MA50 and MA200, it will give a confirmed sell continuation signal. First target is the S1 (TP1 = 3.5525) and second near the S2 (TP2 =...
XCUUSD - 24h expiry - We look to Buy at 3.851 (stop at 3.811) Our short term bias remains positive. The sequence for trading is higher highs and lows. A lower correction is expected. We look to buy dips. 50 4hour EMA is at 3.846. Our profit targets will be 3.951 and 3.971 Resistance: 3.900 / 3.914 / 3.930 Support: 3.875 / 3.860 / 3.835 Please be...
The industrial metals market often goes unnoticed by many traders, although some excellent trading opportunities are often to be found here. And with that, we say, "Get to the copper!" For things should get moving here quite soon. The completion of wave (ii) in magenta should be imminent here, the copper price should therefore initiate a bearish trend reversal...
Short Term Elliott Wave in Copper (HG) suggests the metal ended wave ((2)) pullback at 3.54. The metal has turned higher in wave ((3)). Rally from wave ((2)) low is unfolding as a 5 waves impulse Elliott Wave structure. Up from wave ((2)), wave (i) ended at 3.618 and pullback in wave (ii) ended at 3.578. The metal extends higher in wave (iii) towards 3.694 and...
-Trend = uptrend -Price reacting off of supply -Price reacting off of resistance -Any shorts will be counter-trend and requires some sort of confirmation + smaller risk + quicker trade management.
AMEX:COPX clearing weekly EMA30 today (needs a weekly close) and pausing just under the recent downtrend with a bullish looking candle IMO. Could be a nice move tomorrow.
Analysis: Looking at the technicals on Copper we can see a clear downwards trend. Price is forming lower lows and lower highs which confirms that we are in a downwards trend. Price has also been respecting a downwards trendline which again shows us that we are in a downwards trend. We're currently sat at an area that we're interested in as price has held this...
European and US Indexes bounced into the weekend setting up for a strong open for the Asian session. Some debt ceiling optimism and stronger than expected economic data helped bulls squeeze out recent sellers for the drive higher. The data showed strength in inflation and the US consumer which points to a resilient economy...but it also points to sticky inflation...
CAPITALCOM:COPPER Doctor Copper says weaker economy ahead. bear flag on weekly and monthly chart dual breakdown. Support at the 200 weekly moving average.
A handful of AI related Tech stocks supported the broader market in the US while the DOW continued to edge lower into a longer term support zone. US Debt ceiling talks took a step in the right direction albeit a very small one...I do not expect a deal until the last minute as US Politicians enjoy the limelight. The USD continued higher putting pressure on dollar...
COMEX:HG1! One word - CLEAN! What a beautiful chart for copper! Technically it's ever so clean, when it comes to set ups like this - Be careful of fake breaks. Pattern - Triangle/Pennant Highs: 4.2100 Lows: 3.8255 A break of highs I expect: 4.3550 & 4.5570. However, a break of the lows I expect: 3.6740 & 3.5040 and perhaps lower! Currently, as long as we...
This probably is not a good sign for the SP:SPX , as these assets are highly correlated (0.88) and normally AMEX:CPER leads the business cycle. Also, the TVC:VIX is back above 20 and NASDAQ:TLT hasn't resume its downtrend. Even the dollar AMEX:UUP is showing strength again. I'm 87% in cash and also have tighten all my stops. Let's wait and see if the...
Major indexes go into risk off mode as traders get nervous over the US debt ceiling deadlock. Economic news also weighed on share markets as numbers came out in line or, in some cases, stronger than expected which translates into 'sticky inflation' and further potential interest rates rises. US bond yields edged lower after pressuring higher for the past few weeks...
No worries – we didn’t confuse our metals! However, like a lead weight, copper should continue to sink further, heading for the green zone between $3.08 and $2.59 in the south. Already the price has broken free from the recent sidewards movement and has developed a new low, showing more and more downwards momentum. Once copper has arrived in the green zone, it...