Aim for 2.85 or 61.8% of falling wedge
I picked a random futures chart and copper seemed to have a nice setup in process. Might actually take this trade. Red circle shows closes above last move down to make our low, signaling possible trend reversal. At this point we are now in the middle of the pullback and it looks like it might make the desired higher low. This is where I would get long and take...
This is the trade setup. You want to buy at most around the current price and have your stop loss around 10 cents or lower. The take profits are the green lines.
Copper is on a 4H bullish leg (RSI = 62.650, MACD = 0.014, Highs/Lows = 0.0064), after finding support around 2.6000. It just crossed (marginally) above the MA50 and on similar patterns since September 18, this calls for a bullish extension at least towards 2.8400, which is our TP. Breaking above the MA200 enhances the probability for a test at the 2.95000 1D...
Expecting bounce from extremely oversold weekly and daily levels. COT and seasonality also extremely in favour of a bounce. If stop breached on a daily closing basis, be prepared to catch new daily reversal on lower levels with tight stop.
Massive extensions are not uncommon: Weekly chart: The indices falling would not cause the price of copper to fall, this did not happen previous it is not true that the price is tied to the economy as what is told. Also chinese people use copper as a safe store for their money. Price went down in 2008 but this is irrelevant. Went up in...
COPPER broke out of the double top pattern and targets 2.68 Cheers!
EW suggest grinding towards $2.3- $2.4 of 50%-78.6% of fib level for C. Weekly and Monthly RSI shows weakness. Confirms the larger downtrend. Find Sell setups on lower TFs. Good luck Robus
Copper is on a standard 1D bearish sequence (RSI = 39.990, MACD = -0.034, Highs/Lows = -0.0234) that has just (marginally) crossed the 2.74170 Support. With the RSI however approaching the 32.800 mark, a bullish reversal alert is triggered as the last 4 times that the price bounced near or just below this mark, Copper gained +7 to +8%. Assuming that happens now we...
There is no reason why an inverted Copper chart should look like the Gold chart, but leading by 13 days (April 21=now). But it does look like it. I have bought at market (1290) for 1335 with a tight 1280 stop. RR 4.5:1. Very small size, as I have no other. evidence.
Copper prices are beginning to break down as a confluence of indicators support further decline. Within Monday's weekly note to subscribers, to wit: But, there is a divergence between the Chinese "green" shoots and the commodity complex. Especially, if you look at mining and base metals, they do not confirm the rally in Chinese manufacturing. Copper is...
Just my opinion on what market might currently be doing. Enter and exit at your own risk. DISCLAIMER Please note that this chart is an opinion based chart only. Please trade at your own risk
Copper and fcx have had a long, relatively tight relationship. how long will division last? trade deal? I feel like at some point in near future the words trade deal signed will appear in headlines.
Pattern: 4H Rectangle. Signal: Bearish (Double) on the 4H Resistance and 1D Resistance. Target: 2.9000.
China GDP and Retail Sales is scheduled to release. A Better than expected data could trigger the bullish move. Levels As Described
Copper is currently a sell but not long before buyers come back in. My labelled zones are only a rough idea of where i think the market may touch before turning around. Decide on your own Entry & Exit. If you do decide to enter a sell from this point, then i would put a SL around 10pips about zone A because market can always go back up to A again before coming...