Copper is on important crossroads. It has so far rebounded on the 1st 1W support at 2.69388. This is a medium term bullish signal towards 2.85479 as 1D is already easing the previous oversold MACD = -0.081, Highs/Lows = -0.0468, B/BP = -0.1300. 4H is already on neutral STOCH, ADX, Williams, Highs/Lows, steady enough to sustain this bullish counter-leg. The current...
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Copper was doing good during last two years as it rallied from sub-2 to above-3 levels. But the structure is corrective so the wave C finished the correction being equal to wave A by size. Then we saw a breakdown below the white support this March. After that there was a healthy pullback, which was rather menacing as it almost broke the earlier top but failed just...
Signs from multiple markets are indicating a rally in copper. - Strength in equities - US dollar rally exhaustion and Australian dollar strength - Metals possibly bottoming
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Copper has taken off from a nice bullish pin bar that had formed off of a key support trend line. This was a near text-book pin bar setups and the types of setups price actions traders should always be watching for. Price blasted off higher from the pin bar and is finally having a little bit of pause from a key resistance zone. When I will be watching for is...
The consolidation seems over to me, and we may be at the beginning of a 5th-wave for a cycle completion. If theses the case, I would advise that one entered into a slower longterm trade and also uses the phase of the cycle to capture shorter term trades. Additionally, the whole trade war rhetoric might be driving the rise in this commodity as nations and...
Channel Down on 1D (RSI = 43.566, Highs/Lows = -0.0203, BBP = -0.0350) with a porjected Lower Low on the medium term at 2.92894 but a strong 4H support (MACD = -0.009) at 2.98796. We are willing to take this quick short opportunity (TP = 2.98796) and add another one at 3.08978 if needed.
Expecting one more move down before rise. Watch price action at bottom for buy.
Cooper looks poised to leap upwards. This is a similar set-up to gold Longterm I think we find $3.50:
Copper price indicates a bearish pressure that is walking straight to my red ellipse, what does it mean? price going to 2.93 - 2.90, where should bring the bullish pressure back. Have a Good Trading Week, Learn how to beat the market as Professional Trader with an ex-insider! Cream Live Trading, Best Regards!
These are high probability tops in both spreads.
Copper could drop again to finish giant flat correction.
No interest in shorting, or buying any price above my level. #copper I will seek out a shorting opportunity if this level is broken.
The correction phase is over and i think we will start the long movement now (See the previous chart for the analysis) Best of luck
Wait for another pullback and go short :)
Copper XCUUSD short - special double tops formation - High % win