At the beginning of June I put out an idea about shorting Copper . The market didn't do me the favor to get up to my entry, as I ignored past resistance. Probably got a little greedy too. Currently copper is sitting at support and could bounce up to 4$, maybe even up to 4.25$. However in the long term, I see it go much much lower. In my opinion we are in a...
Copper bounced very hard off the Yearly Pivot, however it doesn't look ready for a new sustainable rally. Maybe this bounce had something to do with a fundamental catalyst, but nothing to do with the bull market resuming. To me the market is in a very clear distribution phase, and it simply bounced after taking out several major lows. Essentially this is a short...
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. And guess...
Australian dollar looks like a buy relative to US dollar. The Australian dollar the copper have a high correlation of movement between them. Copper has recently made new all time highs in US dollar terms. The Australian dollar has not made a move yet versus the US dollar while many other commodities have made upwards moves. Australia is a natural resources rich...
HG1! (COPPER) is still making a triangle on the primary degree 4th wave. We will finish the triangle around 61.8% or 78.6% of Fibonacci. The 78.6% area is also a trend-line support zone. With the high chance, we will rebound from the trend-line area. Wave E can take further time to develop. DISCLOSURE - Please be informed that the information I provide is not a...
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...
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 respecting channels and momentum built up to resume its up word journey. A close below 4.2945 would be a price point to reconsider my view.
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. Risk Management 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...
Well, copper definitely showing continued strength. Any failure to bounce off res. turned supp. is an immediate short opportunity, otherwise stay out of the way.
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...