Pattern: Channel Up on 1D.
Signal: Buy as the price is rebounding on the Higher Lows (bottom) trend-line of the Channel Up while the MACD just formed a Bullish Cross.
Target: 4.980 (the 1.236 Fibonacci extension).
** Please support this idea with your...
Copper had a triangle breakout few days ago, it is providing a long entry again as the price is currently retesting the breakout post having a minor correction. Risk reward remains highly favorable given the current setup.
Earlier, I posted about the S&P500 defying gravity.
Another indication to support that view is here... COPPER.
It is well known for copper futures to lead/follow (takes turns) the equity markets. The reasons behind this phenomena is very fundamental, copper is used in production of many things, and in an economic upcycle, copper is one of the first metals...
Copper has a healthy stair-step trend, with mid-term consolidations after big rally's, as drawn in chart.
We are about to make the measured move which I projected in my last chart on this ETF, at this point I expect we could enter a period of consolidation.
I will tight my exits to the 5-day moving average once we complete the measured move....
Copper, Solar panels,
wind turbine and New generation drone, jet, car, tank, heat pipes,
electricity. so copper will be needed every day.
It was the decision to press the US and Europe bar at first.
In other words, they will encourage the people to shop by impoverishing them.
Factories will store tons of copper, except for those who want to protect their...
A late February peak runs out of steam and makes a comeback
LME and COMEX stocks rise
Inventories can be a mirage
Goldman Sachs makes a bullish call- Three reasons for higher copper prices
Heading for new high- Copper could go parabolic
In March 2020, nearby COMEX copper futures traded to the lowest price since June 2016, when it reached a bottom at...
See chart. COPPER on the verge of a multi DECADES break out. I cant see any better long term investment.
EVERYTHING ABOUT ENERGY IS MADE OF COPPER.
Every single TESLA will use lot of copper.
Every Internet of Things will be made of copper.
Semi-conductors.. shortage? it rhymes with copper shortage as well!
Hell even BITCOIN is basically copper made.
The traditional relationship between the Copper/Gold Ratio and US 10 year yields - which has proven sound over the longer term - is suggesting a potential up turn in US 10 Year Yields. One big caveat on this analysis is the Federal Reserve. Should Powell et al intervene at the longer end of the market, this will upset the ratio and send rates lower, even if demand...
A very important long-term pattern was just formed on Copper. On the 1M time-frame, the MA50 (blue line) and the MA100 (green line) have formed a Golden Cross. Last time that happened was in August 2004. Copper rose by +370% from the MA100 break-out level.
The Cycle seems to be repeated as the Golden Cross has come after the price Double Bottomed last March...
Copper - Intraday - We look to Sell a break of 34580 (stop at 34910)
Trend line support is located at 34850.
Daily signals for sentiment are at overbought extremes.
A break of 34600 is needed to confirm follow through negative momentum. A higher correction is expected.
Although the bulls are in control, the stalling positive momentum indicates a possible...
Copper - Intraday - We look to Sell a break
We are trading at overbought extremes.
With signals for sentiment at overbought extremes, the rally could not be extended.
A higher correction is expected.
Rallies should be capped by yesterday's high.
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible.
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...