fcx buyers are very excited for the future! has been a good run. but, seems we never really got past phase 0 on the trade deal.. will the tariffs start to become bullish? Harder us pushes maybe quicker we find a solution.. agree to disagree?
Taking a bit off table.. keeping close eye on copper.. who knows how high it may run. has been depressed for so...
Spoke with someone last night who emphasized the uptick in security at construction sites more or less specifically for people stealing COPPER. I am going to COP some COPPER. Don't do what I do. This is not financial advice. I do not know how to trade or chart, and this idea is just art : )
- Namnaste'
Happy Monday fam
P.S. Trade Futures? Send me a PM. Opening...
Copper (XCUUSD) is trading within a 1D Ascending Triangle (RSI = 56.277, MACD = 0.016, Highs/Lows = 0.0000). Last week it was rejected on the 2.7000 1D Resistance and that should make it test at least the 1D MA50 (blue line). In our opinion since the RSI has been consolidating in the past 2 months, the potential pull back can make a Higher Low on the 1D Ascending...
Copper making move
ER in rear view
Grasberg pit on track
Things are looking ok here. Just need to hop over that resistance line... : )
What do ya'll think?
Similar to last time the HG touch below the 2.55 area: trade some time below, get momentum and break above, trending higher. Looks similar right now. The trade setup is good because the stop is clear.
pure play copper not exactly best idea for global recession positioning.. but, who knows how this thing is going to go down. Copper is so important, it cant be left behind for long? Maybe it can? But accumulation at least shows some promise.. Should be fun next few months! Please let me know your thoughts.. FCX performance lately is scary. Big money know...
Expecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
Copper is going to complete the deep correction within WXY structure.
We are in wave c of Y to hit 2.23 area, where Y=W and correction reaches 78.6% Fibonacci retracement level.
Stop 2.71
Entry market
Target 2.25
Copper is interestingly a great gauge of economic health coming from Asia, and also a relevant view on global growth / inflationary expectations. We've been battling two head and shoulder formations since the GFC. First, the very large commodity bubble formed a big head and shoulders that peaked roughly around 2012, a time where China had maxed out its credit...
Expecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
Short Term Elliott Wave structure in Copper suggests the rally to $2.64 ended wave (2). The metal has since resumed lower in wave (3). The internal of the move lower is unfolding as an impulse Elliott Wave structure. Down from 2.64, wave ((i)) ended at $2.578, wave ((ii)) ended at $2.626, wave ((iii)) ended at $2.547, wave ((iv)) ended at $2.575, and wave ((v))...
Expecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
Daily Chart Explanation:
- Price is against a Weekly Support Zone.
- Price is under a Descending Trendline.
- Bullish Divergence on MACD.
- If price breaks the Descending Trendline at 2.68, potential to move up towards the Resistance Zone at 2.96 and, then, to the Weekly Resistance Zone at 3.2.
Our Weekly Vision supports this potential long idea. Take a look!...
Copper has touched the 1M Support (2.5400 - 2.5300) on the first week of August and has been rising since. This indicates that this long term demand level may once again accumulate long term buyers. It is still though on the early stages as 1D remains mostly on neutral grounds (RSI = 46.067, Highs/Lows = 0.0016, MACD = -0.018) so investors still have time to...
