Hello traders, today we will talk about copper, its price action from technical point of view and wave structure from Elliott wave perspective. Copper is trading sideways since May 2021 and we see it trapped in consolidation, ideally within a bullish running triangle pattern in wave (4). Triangles are overlapping five wave affairs A-B-C-D-E that subdivide...
Trade Idea: Selling Copper after 78.6% resistance Reasoning: Intraday head and shoulders top, looking to hit measured move target Entry Level: 4.276 Take Profit Level: 4.175 Stop Loss: 4.301 Risk/Reward: 4.04:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high...
Trade Idea: Selling Copper on 50% pullback Reasoning: Rallied into resistance level, looking to continue move lower Entry Level : 4.2170 Take Profit Level: 4.0370 Stop Loss: 4.2440 Risk/Reward: 6.67:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of...
Type : Bearish Dip Resistance: 4.5250 Pivot: 4.4920 Support : 4.4205 Preferred case: We see the potential for a bearish dip from our pivot level of 4.4920 which is in line with 78.6% Fibonacci retracement extension towards our 1st support level of 4.4205 which is in line with 78.6% Fibonacci retracement. Alternative scenario: Alternatively, price might break...
Copper reached a very peculiar confluence zone: we see a perfect match between a horizontal daily demand area, 618 and 786 retracement levels of the last two bullish impulses. Analyzing the candlesticks, we may spot a nice dodji candle being formed on that structure. Then, analyzing an intraday perspective, I spotted a bullish breakout of a falling wedge...
Copper prices are probing its 200-day Simple Moving Average after a bout of weakness. A clean break lower would expose the 2022 low at 4.2820, with a deeper pullback potentially threatening the 4.0000 psychological level.
the push higher than 5.04 will let us expect that wave 3 of (5) is in play, on the other side the move lower than 4.28 will let us expect that the larger flat correction in wave ((2)) started
Type: Bullish Bounce Resistance: 4.5230 Pivot: 4.4320 Support: 4.3950 Preferred case: Price is moving nearer to the key pivot level. We are expecting the price to potentially bounce off from our pivot level of 4.4320 in line with 78.6% Fibonacci retracement towards our 1st resistance level of 4.5230 which is in line with 38.2% Fibonacci retracement and 61.8%...
We have seen an impressive bull run on Copper and Copper stocks over the past few months, my calculations / analysis shows that this may now be coming to an end and we should expect a short - term sell off on Copper and Copper stocks in the next coming weeks. Copper (XCUUSD) will be entering a correction in the second quarter of 2022. At the current price,...
Copper is trading in a strong bullish trend. Since the middle of March, the market was consolidating within a horizontal trading range. The market broke and closed above its upper boundary yesterday. Now I expect a bullish continuation to 855 ❤️Please, support this idea with like and comment!❤️
Type : Bearish Dip Resistance : 4.7890 Pivot: 4.7740 Support : 4.7375 Preferred case: We see the potential for a bearish dip from our pivot at 4.7740 in line with 138.2% Fibonacci extension towards our 1st support at 4.7375 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection. Alternative scenario: Alternatively, price may break our pivot...
Type : Bearish Dip Resistance : 4.7660 Pivot: 4.7370 Support : 4.6840 Preferred case: We see the potential for a bearish continuation from our pivot at 4.7370 in line with 78.6% Fibonacci retracement our 1st support at 4.6840 in line with 50% Fibonacci retracement and 78.6% Fibonacci projection. Alternative scenario: Alternatively, price may break our pivot...
Type : Bearish Dip Resistance :4.7220 Pivot: 4.6690 Support : 4.6145 Preferred case: We see the potential for a dip from our pivot at 4.6690 in line with 38.2% Fibonacci retracement and 78.6% Fibonacci projection towards our 1st support at 4.6145 in line with 78.6% Fibonacci projection and -27.2% Fibonacci expansion. Our bearish bias is supported by price trading...
Type : Bearish Dip Resistance :4.7220 Pivot: 4.6690 Support : 4.6145 Preferred case: We see the potential for a dip from our pivot at 4.6690 in line with 38.2% Fibonacci retracement and 78.6% Fibonacci projection towards our 1st support at 4.6145 in line with 78.6% Fibonacci projection and -27.2% Fibonacci expansion. Our bearish bias is supported by price trading...
this chart shows, how the moneyallocation rises while the fed highers yields. The setup in RSI and the actual chartpattern has high similarities to the copper chart 2006, when Copper broke through a resistance and made exponential returns. Now copper is again at a resistance, if it breaks through, we might see some crazy gains again.
Copper created record highs this month, where it peaked at a high of $5.0395, breaching the previous all-time high from February 2011 once again. The previous all-time high is proving to be a strong level of resistance as price is unable to remain above this level for lengthy periods of time. There is now a long wick above this month’s candle as the sellers have...
Copper is trading in a sharp bullish trend. Recently the price dropped nicely. The market reached a strong confluence area: the blue zone is based on 786 retracement of a major impulse leg and a horizontal structure on the left. From that zone, I will expect a bullish movement to 820 848 ❤️Please, support this idea with like and comment!❤️
✅COPPER is trading in an uptrend With the pair set to retest The rising support line From where I think the growth will continue LONG🚀 ✅Like and subscribe to never miss a new idea!✅