As per my analysis Copper is on Buy Trend So buy at 499 Stop loss at 497.4 and expected targets 501.70 / 504.10
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As per my analysis Copper is on Buy Trend correction So wait and sell at 499.20 Stop loss level at 500.30 Target Expected 497 / 495.80
after correction buy at 495.80 Stop loss at 494.40 and expected targets 501.80
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As commodities & metals start to recover on the international markets, commodity currencies are likely to gain significantly against
the greenback.
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Copper climbs higher towards 2018-2019 highs!
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Copper futures display a strong bullish momentum as economic data from across the globe begins to show signs of improvement.
📍 Changing Directions...
Let us first look at the previous charts for the flows we were tracking in the typical Copper flows inside a crisis:
a) Confirming the correction, which is set from an abc retrace
b) Momentum is in play here
In the lows at 2.1 - 2.3 the clear move was loading on the lows. This was followed by an immediate slingshot out as...
We can experiment with the opening here in the copper/gold ratio as commodity shortages begin to make the rounds as widely expected.
📌 Probably the most sensible response is to prepare for a slingshot into Copper with reversed flows in and out of Gold.
Shortages/
It seems to be an inflection point at an early stage in the crisis. I would have preferred...
Copper vs. Gold is an intermarket ratio highly correlated to US10Y. Inverse is true of Gold vs. Copper being highly correlated to Bond prices.
Looking to commodities to gain insight into the direction of US T-Bond futures.
So far nothing to write home about..
Rationale is simple. The longer term trend is bullish and the 1H chart shows a temporary correction. Yes, if you short, you might get lucky and win some pips profits but that also means you have to be fast with your fingers. Some may be fast to get in but late to get out, turning profits into losses. Not worth it.
Some are late to get in (FOMO) and early to get...
The copper/gold ratio is traditionally viewed as a good proxy for bond yields, and that relationship has held mostly true of late. That said, we do not agree with all this exuberance over a topside "breakout". The ratio is sitting right in the middle of the recent range with heavily overbought RSI levels. Could go either way.
Copper reached a peculiar zone of confluence:
we see a perfect match of a horizontal daily structure, resistance line of a rising wedge pattern and fib.levels of the last major bearish legs.
based on that the chances are high the price will retrace to the support of the wedge.
also, look for a potential bearish breakout of the wedge.
it will trigger a selling...
