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May 2021 - Silver - 17.03.2021Are Silver forming a corrective pattern? 1. Fundamentals Market seems to wait news comes from FED's meeting. But, ETF's holding Silver as well as disappointing US Reading (i.e: US industrial production/capacity utilization); i think, US dollar will be lower and it pushes silver higher. 2. Technical. Silver are currently in corrective pattern as i draw in my pic. 25.45 - 25.70 is a support zone. I think, this is a potential reverse. Traders could wait actions happen in this zone. In my opinion, i think, silver will climb higher and reach 27.05 in coming days.
COMEX:SIK2021Long
by commoditybulletin
June 2021 - Copper 05/03 - Rebounce Sharply1. Fundamental Analysis - After Chile's announcement about rising copper output, Congo increased production of copper and cobalt. - Besides, US Treasury yield climbed higher, it directly made US Dollar stronger than currency peer. Therefore, this triggered a wave of sell-off from equities to commodities by funds. - However, news comes from China that they are targeting GDP growth (at over 6%) are quite impressive. In med tern i think Copper is still good. But near-term, long liquidation remains in place. 2. Technical Analysis. After forming the first wave down in daily timeframe (or three waves ABC in H1). I think, Copper will rebounce sharply with three waves up as i draw in my pic. Of course, we ne to watch close when prices likely break the downtrend in H1 timeframe.
COMEX:HGK2021
by commoditybulletin
May 2021 Copper - Corrective PatternUpdated: Corrective Pattern. 1. Fundamental Analysis - Lack of news comes from China, which represents physical demand. - Waiting for news from non-china (i.e USA: readings from initial claims, unemployment rate...), which show the extent each country are recovering after pandemic. 2. Technical Analysis - Daily: Copper remains corrective pattern in daily timeframe . And it moves as Wave A-B-C as paragraph. - In H1: I predict that Wave B are forming, and it can reach to 4.24 - 4.30. Keep in mind that: 4.24 is resistance zone .
COMEX:HGK2021
by commoditybulletin
June 2021 - Copper (03/03/2021)Fluctuating in wide range (4.04 - 4.37) 1. Fundamental Analysis - Waiting for readings about U.S. factory orders, initial jobless claims and durable goods orders. - Despite Caixin PMI services and indutries were not gud as expected. But, Lots of people remains optimistic. - Sentiments about this market are seemingly improvement, even Chile annouced their production increased. 2. Technical Analysis - Daily, Supporting level: 4.04. - H4, price are fluctuating in a sideway. I expect that Copper need to accumulate, and then climb to former peak. (Around 4.30)
COMEX:HGK2021
by commoditybulletin
1
June 2021 - CopperCopper - Correction Ahead 1. Fundamental Analysis - US Housing Data was quite disappointing. - Equity market decline & the fear of rising US interest rates. - In addition, I think copper market is waiting for news which comes from US ( US government's plan for boosting produce electric vehicles) and China (confirmation about speculative buying and demand through readings of Shanghai copper warehouse stocks). 2. Technical Analysis - This market seems overbought, and there's a sign that people are taking profit. - Currently, i think copper contracts are moving in a range | sideway (4.08 - 4.37). - Intraday, prices can climb higher and reach a zone (4.30 - 4.33). It could be a good opportunity for sell to probe the strength of the market)
COMEX:HGK2021
by commoditybulletin
2