Bearish sentiment building for copper and other metals/commodities from Evergrande debacle in China and copper prices were down sharply this past week.
COPX weekly chart closed outside the longer-term (march 2020) regression channel for the 2nd time in the last few weeks also printing a bearish engulfing candle indicating potential for more near-term down. ...
COPX took another hit today and lost +4% which is a little surprising considering Max Pain this Friday is $37... maximum-pain.com
Expecting a turn soon. Probably starting next week after some more pain and fear...
Indicators appear to be looking for a turn on the daily, and Volume is drying up on this leg down.
Potential selling climax on...
#Copper #globalcopperminers #copx seems to have more downside.
After completing bearish Crab pattern with three desired targets archieved now instrument still seems to have some downside momemtum with a trend line broken and retracement going below 61.8%.
Looking for a completion of bullish Bat pattern after breaking 75MA. BB walk started so later looking...
COPX wave 5 top lies out of channel around the 25th of June.
The end of June will be in my mind, 25th-28th have recurred as dates of peak projections on so many charts of mine that I will make a trading plan around it. We could see a slow down in metals and miners late summer into the autumn. I think Q4 will probably rip into a larger crash, not so sure on the...
I have been seeing articles about Copper shortages but hadn't really paid much attention to them. My interest was sparked looking at one of the latest TradingView Editors Picks which was a chart of Copper pricing and how it has been in a nice steady uptrend for the last year.
What's driving the demand in Copper and why do I think it might continue upwards - well...
Commodities have been on a tear lately. This trade on COPX is a good one to catch. Since the move has started it would be wise to use the first ray at 35.97 as a target if you're a little bit squeamish.
Lately, the way these ideas have been moving I decided it's best to move my targets higher since by the time the alarms are triggered and I get to adjust, the TP...
Miners (COPX) rising daily channel (blue) tops out the Monthly (Grey), coinciding with fib levels (previously respected).
The window shown in purple is the current max price target and timeframe for summer volatility, where an intermediate decline is expected before resumption in the fall after the window closes.
This timing thesis is my personal favorite...
We have broken the long-term resistance trend that had been in place for almost 10 years.
RSI is very overbought, but this market has proven overbought can stay overbought for a long period.
In the chart there is 3 potential targets for Copper in the long-term picture.
There are several place to take profits and/or add on pullbacks. (These...
I rarely look at charts over 3 years but have heard a few people talking about Copper lately so thought I'd check it out!
There is so many long term pivot points visible and we are on the way to reaching one of those points again.
The April 2011 high and Jan 2016 Low creates long term Fibonacci channels of which we are now sitting at the the 0.236 level...
The December monthly candle closed above the resistance line for the first time in many years, with the most volume ever in one month.
MACD is about to cross bullish.
Currently holding immediately below 26-month EMA resistance.
Concern grows over global economic slowdown. The US continues to be a leader (for now).
China is the largest copper consumer, and has been beaten down. Technicals don't look good at all. At least there is no divergence.
If Trump and Xi don't reach a deal, you must know - copper will absolutely go down.
COPX (Global Copper miners)
CPER (United States Copper)
use caution as negatively sloped
but the -tve slope mitigated but strong seasonality of copper through to the end of April.
I expect a min price as indicated, but will likely see much more as the run should continue past what i have indicated.
Nice risk reward of 8+ min
Price overshoot the U-MLH of the downsloping Fork, but came back into the Fork.
Now there is a big chance that price will make a nice move to the downside.
Besides COPX I usually doublecheck with the HG1! Futures, and they are in line now.
Curious if it falls down to the Centerline, or if it stops at the L-MLH.