Because of copper's widespread applications in most sectors of the economy — from homes and factories to electronics and power generation and transmission — demand for copper is often viewed as a reliable leading indicator of economic health. CPER ETF seeks the daily changes in percentage terms of its shares’ per share net asset value (“NAV”) to reflect the...
Is Copper finding support on the 200-month moving average? If you zoom in, you will also find a falling wedge pattern on the daily chart.
Same fractal detected that previous led to testing the 0.786 Fibonacci retracement level. Confirmation comes with the Death Cross occurrence. Long term target 2.2300 (new 0.786 Fib).
Daily Chart Explanation: - Price is against a Weekly Support Zone. - Price is under a Descending Trendline. - Bullish Divergence on MACD. - If price breaks the Descending Trendline at 2.68, potential to move up towards the Resistance Zone at 2.96 and, then, to the Weekly Resistance Zone at 3.2. Our Weekly Vision supports this potential long idea. Take a look!...
Copper has touched the 1M Support (2.5400 - 2.5300) on the first week of August and has been rising since. This indicates that this long term demand level may once again accumulate long term buyers. It is still though on the early stages as 1D remains mostly on neutral grounds (RSI = 46.067, Highs/Lows = 0.0016, MACD = -0.018) so investors still have time to...
If you follow my work, I believe a recession is coming...and could be a reason the Fed is cutting. Check out my posts on the recession signal and the US Dollar linked below. This sets up the potential confidence crisis that I talk about in my bitcoin and gold posts and why these assets will likely go higher. We are told we are in the strongest economy ever...yet...
Hello Traders, XCU/USD Copper Expecting Short Term Sell Setup. Breaking 2.70234 / 2.69786 VS 2.65789 / 2.62491 / 2.61815
Hi there. Price is moving impulsively to the downside. Wait for the price to complete the continuation pattern that its forming and watch strong price action action for sell.
Hello Traders, XCU/USD Copper 2.62467 /2.61815 VS 2.72578 / 2.74445 Short Term Buy setup towards to retest previous high's 2.72578 / 2.74445
OANDA:XCUUSD Trade Ideas Copper (spot) - Intraday - We look to Buy at 2.6650 (stop at 2.6450) Although an initial dip was posted, buyers emerged and follow through bullish momentum resulted in all the previous day's losses being overturned. Trading inside the Daily Ichimoku Cloud. Price action has posted a bullish Engulfing Candle and is positive for...
Hello Traders, XCU/USD Copper Potential Short Term Sell Setup 2.64765 vs 2.68238. Looking for ( Yellow ) to complete the corrective / consolidation / continuation Pattern and Break 2.64765 to give us another impulse down ( Blue ) vs 2.62468 / 2.61815 & 2.60244 / 2.56195.
4H Vision Explanation: - Price broke the Descending Trendline and started an up move. - It has potential to go up towards the Major Resistance Zone at 2,96767, being careful with the Middle Support Zones. - However, the Bearish Divergence on MACD could be anticipating a Pullback to the broken Resistance Zone that is now a Support Zone. We are also long in our...
Copper is on a 4H bullish leg (RSI = 62.650, MACD = 0.014, Highs/Lows = 0.0064), after finding support around 2.6000. It just crossed (marginally) above the MA50 and on similar patterns since September 18, this calls for a bullish extension at least towards 2.8400, which is our TP. Breaking above the MA200 enhances the probability for a test at the 2.95000 1D...
Massive extensions are not uncommon: Weekly chart: The indices falling would not cause the price of copper to fall, this did not happen previous it is not true that the price is tied to the economy as what is told. Also chinese people use copper as a safe store for their money. Price went down in 2008 but this is irrelevant. Went up in...