Short sell if price stop below 2.95. Price target demand level 2.85 and 2.8. Stop order above 2.97
Copper retested the breakdown point within a small consolidation. Watch breakdown for another drop.
Pattern: Fibonacci retracement. Signal: Bullish either now (1D support) or on the 0.382 Fibonacci. Target: 2.96000.
Based on their correlation since 2002 we can say that EURUSD is a leading indicator for Copper. Especially since 2010, they both trade within a 1M Channel Down, with EURUSD however respecting the Lower Highs/ Lower Lows more. So with EURUSD on a long term bearish trend towards the 1.0358 support, we expect 2.000 long term for Copper. Technically Copper's 1M is on...
Textbook symmetrical triangle en route to apex.
The price is trading on a 1D Channel Up (RSI @ 61.767, MACD @ 0.035), which has made this week a Higher Low (Highs/Lows @ 0.0000). The next Higher High is expected on a +8% rise but we are taking a more conservative target. TP = 3.03455. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes...
I have two ideas in mind, bounce at 2.84 ....or bounce at 2.74 (for the optimist bear (me!)) I hope my thinking is clear from the graph (ignore the memelines from earlier, i usually don't publish). In conclusion, i see a solid trend brake and no support in sight Please share your thoughts with me so i can improve :D I have moved my stop loss for my short to...
Pattern: Channel Up on 1D. Signal: Bullish as the price is close (-3.35% pull back) to making a Higher Low. Target: 2.9765.
In tandem with many other markets (crude oil/equities) we are expecting corrections. From a technical view, copper has completed a perfect flat correction and we should expect immediate downside from here.
It is not new that this year 2019 with the rumors and the suspension of tariffs added to it the good perspectives on a possible agreement between China and the United States. pushed the red metal ( copper ) ,but approaching a great ressitencia, follow the good forecasts is not unreasonable the price continues to climb positions, but all this will be seen soon.
Fundamentals: No major supply disruptions occurred in 2018 and most labour negotiations have been agreed. However, overall growth has been negatively affected by lower output at some mines in Canada and operational problems in China, Peru and the United States. As a consequence the ICSG growth forecast for mine production was revised down to 2% compared with the...
Self explanatory. 0 strong fundamentals driving the market. Trend = 0 trend. Go with the basic TA. Easy.
Copper has been trading sideways on 1W (RSI = 50.950) since late July within a strong 2.5425 - 2.8715 consolidation zone. The price was rejected last Friday on the 2.8390 - 2.8715 Sell Zone and since 1D turned already to neutral CCi = 33.6567, Highs/Lows = 0.00000, a strong sell opportunity is presented. We are taking this short signal with TP = 2.6665. **...
The Australian dollar is a known proxy for copper, so the recent rally may be a leader for a rally in the currency.
So copper seems to have bottomed twice around the 2.60 area and is trying again to push higher following its rapid demise mid 2018. Technically we can see the chikou san is still below price 'N' periods back and the tenkan san is yet to cross the kijun san to signify the possible start of an uptrend. However it's going to have to push through well set resistance...