Interesting time for copper!
Chinese smelters and global miners meet every November to negotiate the annual benchmark for the following year’s TC/RCs.
Miners pay treatment and refining charges (TC/RCs) to smelters to process concentrate into refined metal. When supply is scarce, refiners have to charge less to attract what they need.
This comes when...
On Feb 20 markets started to go down due to COVID19.
Here I posted some daily screenshots of: SPX, DOW, NASDAQ, DAX, CAC, FTMIB, FTSE, WTI
When economic conditions weaken and risk appetite decline, Gold normaly goes up because it is considered by many a safe...
both formations V-Shape and U-Shape are considered to be supportive formations.
V-Shaped recovery: www.investopedia.com
Please share your views or comment and if you have any questions please do not hesitate to ask.
Thank you for your...
Beyond all fakeouts, for copper until now the area $ 2.54 has proven to be hard to breakthrough. If the US stock market maintains its bearish bias also in March, then most likely this will be a right time to see copper below $ 2.50. However, the decline will be more pronounced on the copper at the LME (London Metal Exchange) than on that at the NYMEX.
uncertainties over a US China Trade Deal by year end formed a double bottom in divergence with RSI that favoured the pullback from D into descending 200SMA and on upper band of the 100BB. To note that this encounter between BB and SMA occurred when sentiment was overbought.
A similar formation occurred few weeks ago when B was forming. Here the idea...
I had this idea from Reutres as today they published an article with a nice SPX chart with a timeline of the US-China Trade War. For easy reference please find below the article.
To note how trade news impact...
Just some thoughts.
Please share your view and for additional infos about Gold have a look to the related ideas linked at the end of this post.
If you have any questions or comment to add please do not hesitate to post it.
Thank you for your support and for sharing your ideas.
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it was on Aug.12 when I posted the following chart and Gold was at 1495 running into 1560:
Fear of tariffs and worries over deterioration of US-China negotiations drove that run.
Today those worries are creeping in again at 1445, and this is what stopped Gold at...
the top made when price hit 200SMA diverge a little with RSI.
Lower band of light blue area may be last line for support for the distribution period B to C to continue.
Need to consider that retracement of AB may be completed.
Price is forming 3-3-3 moves inside violet TR.
B was formed due to uncertanties iro US-China negotiations and possibly...
This is my view on Gold for a short term pullback into 0,382 Fibonacci retracing AB at 1472.
Below how AB looks in the daily chart and where 1472 is.
Please also click & play the following chart prior of making B (above)
And this is the...
the above chart is providing a structure within the context of SPX and US-China trade deal.
Gold pulling back following Reuters' news
Following what happened in the last few days based on growing optimism iro US-China trade deal, here is the link to an article...
following the idea posted yesterday, Gold broke out the distribution period to make a low at n.3 lower then n.2 and complete the Zig-Zag.
Yesterday's bullish opening of the stock market prompted Gold bearish move into n.3.
Growing optimism in respect of US-China Trade Deal is favouring a Risk-On mood despite lot's of issues are still pending. However,...
here some infos and some questions iro Gold daily.
For additional infos about Gold please refer to the related ideas linked at the end of this post.
For example click & play the following chart to watch how it moved since August 12th when it was posted. In relation to such structure please note how price found support just above the upper boundery of...
the above structure is a follow up of my post published on Jul 3:
What will happen next? What does it mean the big divergence with sentiment? Is it an opportunity to buy the pullback for a run towards 1500 or is it a bulls' trap?
For additional infos about Gold please refer to the...
This 4 hour chart.N2 follows previous daily chart N.1.
The idea is to provide a technically correct structure that follows the move commenced at 0 (ZERO).
Key factors that supported Gold into 0 (ZERO) for the breakout are:
1) Deterioration of US China negotiations that entered a stalemate at the beginning of May;
2) Arising tensions in the Middle East...
the first time I thought it could form a Cup & Handle it was on March 26, 2019 when I published the idea on TradingView. For easy reference please click the image below:
Since then I've been trying to undestand gold behavior until it broke out the handle for the upside which confirmed the...