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...
After a 37% decline from its peak of $5.03 per pound in early-March 2022, copper has risen 14% since July's lows. However, the metal has recently been unable to overcome key resistance levels represented by the 50-day moving average and the descending channel trendline, as fresh worries about global growth slowdown and monetary policy tightening reemerged this...
What is going on with Copper? Price is skyrocketing yesterday and today but why? We are coming into a world recession sometime this year, inflation is the highest its been in 40 years, interest rates are going up everywhere, all signs that copper price is 'supposed' to be going down. Any ideas? Heiko
HG ( COPPER ) making a triangle on a Primary degree 4th. We are on a D wave of the triangle. Most probably we finish A wave of D wave as a preferred count (Projected by the black line) and we are coming down to making a B wave. On another side of the analysis as an alternative (projected by the red line)we are on an A wave and we are going upside a little bit and...
COPPER Short Setup 🔵 Entry Level: $ $4.2785 🟢 Take Profit: $ $4.2085 ⛔ Stop Loss: $ $4.3050
10th May daily key reversal bar dictating further weakness in copper. 12th & 18th May also showing weakness ahead. price forming distribution phase to short copper. 4.7550-7860 supply zone for short target 4.5220.
This is a (very) long-term SHORT! The long-term picture - the Monthly;
Copper Short Setup 🔵 Entry: 4.0263 🟢 TP & RR: $3.8877 (1.89) ⛔ Stop Loss: $4.0996 Trade Reasons: ✔️ Position in direction of the trend ✔️ Price reversed at the upper diagonal trend line
25th Daily copper bar key reversal bar made a new high closed off the low. 26th daily bar widespread down bar closed off the low. 4.1380 first demand zone for short, second demand zone 4.4200. 3.7620 might be first target on downside on short position.
COMEX_MINI:QC1! Like the title says; SELL it - SHORT! Regarding Wall Street's conviction, the "check mark shaped recovery" and other tall tales ... .... this is the summary post. ... and here is their "Copper delusion" Let's try Reality! ... ... Shall we?! The original Gold / Copper Ratio post
Technical analysis done on Monthly, weekly and daily charts