Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA...
Copper (XCUUSD) is trading within a 1D Channel Down (Highs/Lows = -0.0144, B/BP = -0.0590) after having made a Double Top at 2.8400 (late Sep, early Oct). If the previous 2.6887 Lower Low and 1D support is crossed then HG1! should make a new 2.6600 Lower Low and attempt a break out. Otherwise the Channel Down will make a new Lower High near 2.7800 before it...
Copper has been bottoming for quite some time. Economic trends are plumbing/housing, electronics, and EV vehicles, so let's step back and review.
* Oversupply for quite some time.
* Copper prices are historically peak in December.
* Housing/construction build rates for SF/MF/5+units is steady Yr/Yr for 5-yr and slight growth if any.
Copper is trading sideways for more than a month now within a 2.5400 - 2.7350 Rectangle on 1D (RSI = 56.012, MACD = 0.000) and the High Volatility (ATR = 0.0544) ensures the preservation of this neutral action. As seen the price has just been rejected on the Resistance, so we are now short aiming at 2.565.
The news has been bad around China and the trade war- but perhaps some relief is due as fatigue sets in
Copper has broken out of a triangle base
Scenario A) Broken trend line provides support on a pullback for bigger move to 2.86
Scenario B) Old highs at 2.75 hold and price drops back into its range
Doctor Copper, The leading indicator of economic cycle remain bearish see, declining copper prices may indicate sluggish demand and an imminent economic slowdown (Investopedia)
In the chart, weekly chart seen copper price form double top in 50% retracement level. As the elliotician know, price failed to break 61.8% and reverse suggesting the next trend will...
Hudson Bay Minerals is 50% off January high and mining not favorite for many but it's
in small-cap under $10 stocks that can give good double digits this year.
Turning up off baseline entry as copper futures are also turning around.
Copper is trading within a 1D Channel Down (RSI = 43.155, MACD = -0.058, Highs/Lows = -0.0015, B/BP = -0.0380) after reaching the 2.54472 mark. It is now near a new Lower High = 2.69388, which if it holds, will test the 2nd 1W support = 2.45945, which is our target for the new short on XCUUSD. If the Lower High is crossed, the we will get a temporary rise to 2.85479.
Small-cap: IVH or OTC: IVPAF showing potential entry. Shown here is 2h chart.
* Fib retracement on 1D indicates entry at near 1.50-1.54 and currently at 1.57.
* CCI coming up to entry zone
* Falling wedge coming to Fib resistance zone .768 (1.50-1.54)
* Relative Strength nearing breakout, or if falls below 1.48 review position
* Copper prices were...
As previously discussed in other post I expected Copper to correct quite a bit. I was expecting the 2.44-2.60 area because of many confluences. However, we have completed an ending diagonal pattern that pushed to 2.86. Now we have come down to my expected support area based on fractals and fib levels, which we are now holding. Also, if you look at the USDOLLAR we...
Taking a look at something other than Crude Oil for a change.
It appears that Copper is out of a 10 year bear cycle and a bull cycle started in 2016.
A look at the beginning; you can see wave 3 hit the 4.618 extension of wave 1 perfectly and then corrected perfectly to the 0.236 level for wave 4 >
If you add in the...
Copper is on important crossroads. It has so far rebounded on the 1st 1W support at 2.69388. This is a medium term bullish signal towards 2.85479 as 1D is already easing the previous oversold MACD = -0.081, Highs/Lows = -0.0468, B/BP = -0.1300. 4H is already on neutral STOCH, ADX, Williams, Highs/Lows, steady enough to sustain this bullish counter-leg. The current...