Copper prices rise when the economy is thought to be growing and needing more electrical infrastructure while they fall when bearish indicators might project a recession. I am at the aluminum and finished steel subsectors as well. FCX is under consideration but as a large cap it does not have the volatility of the junior miners. In the meanwhile COPJ, CPER...
WRN is on 15 minute chart. The ideas is described on the chart in textboses with a head and shoulder pattern identified as well as a Fibonacci retracement leel and dual anchored VWAP to identify areas of high liquidity and trading volume. The trend indicator adds support to waiting for a best entry as marked on the chart. Once entered, my expectation is for...
Copper prices rise when the economy is thought to be growing and needing more electrical infrastructure while they fall when bearish indicators might project a recession. With that in in on the 15-minute chart I missed a trade in the junior copper miner ETF this week. I have now placed COPJ on my watch list and will not miss it again when it falls to support...
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 =...
CAPITALCOM:COPPER chart mapping/analysis for last week of November. TBC further details/write-up via ideas section.
COMEX:HG1! chart mapping/analysis. Note: TradingView chart B-ADJ adjusted for contract changes Copper Futures attempting to build bullish momentum off evolving China economic stimulus narrative.
CAPITALCOM:COPPER chart mapping/analysis for short-term & intraday trades.
CAPITALCOM:COPPER chart mapping/analysis for med-long term swing trades.
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...
Looking at the weekly chart with 200MA for CPER. I'm a fan of owning physical metals but CPER is a nice way for people to dabble in copper without actually getting bullion. The 200MA is now coinciding with the lower boll band. On a weekly chart I'd expect this to serve as rock solid support. I've mapped out the trajectory of the 200MA if it continues to uptrend...
Metals have been performing pretty good, AMEX:DBB is up +21% in the last 6 months and above its 200-day MA The copper ETF, AMEX:CPER is up +12% in the last month and breaking out from resistance. Could AMEX:SLV follow up? and after silver could AMEX:IAU ? I'll wait for the breakout above $22.50 with target at $26.
Copper in line with Mkt breath weakness. Potential correction
Copper has a strong uptrend with a stair-step behavior. With pent-up demand for semi-conductors, copper mining has been increasing to help suppliers. For in depth analysis, please check my last charts on CPER.
Because of copper's widespread applications in most sectors of the economy — from homes and factories to electronics and power generation and transmission — demand for copper is often viewed as a reliable leading indicator of economic health. CPER ETF seeks the daily changes in percentage terms of its shares’ per share net asset value (“NAV”) to reflect the...
Is Copper finding support on the 200-month moving average? If you zoom in, you will also find a falling wedge pattern on the daily chart.