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%...
In this update we review the recent price action in the Copper futures contract and identify the next high probability trading opportunity and price objectives to target
I think it's becoming more and more clear that copper sells could extend into the last quarter of the year. Corrective wave 4 seems complete at 0.382 of the second Minor wave count and price is currently in an impulsive bear wave of a lower degree. We should therefore expect Copper prices to plunge to $2.96/lb(-15.4% decline) with some minor bullish price action...
Type : Bearish Drop Resistance :3.5555 Pivot: 3.4755 Support : 3.3695 Preferred Case: On the H4, with price below the ichimoku indicator and RSI is moving within a descending trendline, we have a bearish bias that the price may drop from the pivot at 3.4755, which is in line with the overlap support to the 1st support at 3.3695, where the 61.8% fibonacci...
In April, I shared my show idea on Copper with 2 main target levels. I am glad to have seen this play out as expected. Here is the link to my initial idea Please leave a like if you would like to see more ideas from me.
Type : Bearish Drop Resistance :3.5565 Pivot: 3.4990 Support : 3.47325 Preferred Case: On the H4, with the Stoch is below 20, and the price is below ichimoku cloud, RSI is showing a descending trendline and Stoch is reversing from the resistance, we have a bearish bias that the price may drop from the pivot at 3.4990, which is in line with tyhe 50% fibonacci...
Copper futures The rise of the metal depends on the support point 3.3625 to achieve the metal’s decline to end the correction in wave 2. Before expecting the bullish rise again, the decline may reach 3.5345 prices or it may extend to 3.4685 before returning and rising again in wave 3
I'm on the fence with Copper so you can choose I guess. Current trend - Sideways. 2 possibilities. 1. Cup and Handle - target $4.24 2. Rising Wedge - Target $2.65. Which way do you say Up or down?
Copper futures The rise of the metal depends on the support point 3.1315, and we expect the correction to end in wave 2. We expect the start of the rise again, but this depends on trading remaining above the support point of 3.3620, and the rise may reach 3.7130 prices or extend to 3.8915, but this depends on the support point at 3.3620 prices.
In this update we review the recent price action in the Copper futures contract and identify the next high probability trading opportunity and price objectives to target
Copper futures The rise of the metal depends on the 3.1315 support point to achieve the metal’s decline to end the correction in wave 2. before expecting the bullish rise again, and the decline may reach 3.3425 prices or it may extend to 3.2480 and may have already started to rise, but this depends on the support point at 3.3645 prices
Copper futures The rise of the metal depends on the support point 3.1315 to achieve the bullish movement, and we expect the metal to decline to end the correction in wave 2 before completing the rise again, and the decline may reach 3.3450 prices or it may extend to 3.2510
The narrative: There has been a lot of talk about inflation and a china reopening but coppers recent collapse indicates something more ominous may be brewing. The model- Sell: 3.6525 or higher Stop: 3.7200 The Ingenuity Trading Model is a Geometric Hidden Markov Model with specific inputs related to Price, Time, Volume , and Volatility. The model attempts to...
Copper futures. The rise of the metal depends on the 3.1315 support point to achieve the bullish movement, and we expect the metal to rise in the near term and also in the long term, it may rise from the current prices and the second wave has ended or the decline continues to the 61% level at prices of 3.3440 and the second wave ends there
After a 37% decline from its peak of $5.03 per pound in early-March 2022, copper has risen 14% since July's lows. However, the metal has recently been unable to overcome key resistance levels represented by the 50-day moving average and the descending channel trendline, as fresh worries about global growth slowdown and monetary policy tightening reemerged this...
In this update we review the recent price action in Copper and identify the next high probability trading opportunities and price objectives tot target