Title: Copper Futures (HG1!), H4 Potential for Bullish Continuation
Type: Bullish Continuation
Resistance: 3.9600
Pivot: 3.6885
Support: 3.5545
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to...
Title: Copper Futures (HG1!), H4 Potential for Bullish Continuation
Type: Bullish Continuation
Resistance: 3.9600
Pivot: 3.6885
Support: 3.5545
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to...
Title: Copper Futures (HG1!), H4 Potential for Bullish Continuation
Type: Bullish Continuation
Resistance: 3.9600
Pivot: 3.6885
Support: 3.5545
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect price to...
We are short Copper. Take profit 3.40 and Stop Loss at 3.70 - a 1.9 Risk to reward ratio. There is a 50% profitability rate for this trade, however considering the prior signal for copper was profitable, the odds of 2 short signals producing a profit in a row is 25%. This trading signal also aligns with our seasonal sentiment of copper over the coming weeks.
Title: Copper Futures (HG1!), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 3.6920
Pivot: 3.5545
Support: 3.3840
Preferred case: On the H4 chart, we have a bearish bias. To add confluence to this, price is under the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to possibly break the Pivot at...
Copper (HG1!) on the 1W time-frame appears to be repeating the previous major Bear Cycle that started in 2011/12. Based on this fractal analysis, the recent 1W rejection just below the 1W MA50 (blue trend-line) puts us at a proportionate level as on the February 06 2012 1W candle. Having rebounded on the 1W MA100 (green trend-line) both on the July 11 and...
Title: Copper Futures (HG1!), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 3.6920
Pivot: 3.5545
Support: 3.3840
Preferred case: On the H4 chart, we have a bearish bias. To add confluence to this, price is under the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to possibly head towards the Pivot...
The industrial metal topped on March 7th at 5.0395. However, for the next 3 months, HG sold off aggressively and made a July 15th low at 3.1315! Fears of increased inflation, increased interest rates, and increased Covid cases in China led to a fear of lack of future demand. Copper traded between 3.2430 and 3.7830 from mid-July and November 10th, when it gapped...
Copper on the weekly time frame appears to be carving out a five wave decline as the wave 4 high at 3.7930 holds a minimum downside objective of wave five equaling wave one provides a downside objective at 2.8435. The wave 4 on the daily time frame is creating a descending triangle pattern a break of 3.1380 warrant short exposure to target the wave 5 objective.
Type: Bearish Momentum
Resistance: 3.5875
Pivot: 3.3815
Support: 3.2415
Preferred Case: The H4 price is in a downward channel and crossing below ichimoku cloud . The price may drop form the pivot at 3.3815, where the 61.8% fibonacci retracement is to the 1st support at 3.2415 where the swing low and 78.6% fibonacci projection sits
Alternative scenario: If there...
Copper prices may remain under pressure in the coming months due to investors' apprehension about China's growth prospects in the wake of the 20th National Congress of the Chinese Communist Party, which disappointed the market.
Since September, copper prices have fluctuated within a relatively narrow range (3.2-3.6) after the earlier sharp declines occurred this...
Type: Bearish Momentum
Resistance: 3.5875
Pivot: 3.3815
Support: 3.2415
Preferred Case: The H4 price is in a downward trend and crossing below ichimoku cloud. The price is consolidating now, if the price can break the consolidating area, the price may drop form the pivot at 3.3815, where the 61.8% fibonacci retracement is to the 1st support at 3.2415 where the...
Hey traders,
Here is our technical analysis on HG1!.
The level where the price is trading right now is peculiar and the price will most likely retrace from that.
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Type: Bearish Momentum
Resistance: 3.7160
Pivot: 3.4495
Support: 3.2505
Preferred Case: The H4 price is in a downward trend. The price may drop form the pivot at 3.4495, where the 38.2% fibonacci retracement is to the 1st support at 3.2505 where the swing low sits
Alternative scenario: If there is a price reversal, price will move to 3.7160, where the swing...
Copper prices are at risk of moving lower as an inverted handle takes shape following an inverted cup. The Inverse Cup and Handle pattern is an inherently bearish formation. A break below handle support would threaten the 3 psychological level.
Type: Bullish Momentum
Resistance: 3.5460
Pivot: 3.4400
Support: 3.3850
Preferred Case: The price is crossing the ichimoku cloud, if the price can break the cloud successfully, we can expect the price rise to the 1st resistance at 3.5460, where the overlap resistance and 61.8% fibonacci retracement are.
Alternative scenario: If bearish momentum persists, expect...
Title: Copper Futures ( HG1! ), H4 Potential for Bullish Momentum
Type: Bearish Momentum
Resistance: 3.4025
Pivot: 3.3610
Support: 3.2545
Preferred Case: On H4, with the price moving below the Ichimoku cloud and descending trendline, we have a bearish bias. However, price is resting on the 1st support at 3.2545 where the larger 78.6% Fibonacci line and 127.2%...
