Copper prices have recently reached a 14-month high, driven in part by China's economic improvement. This could be a potential trading opportunity, but it's important to be well-informed before making any decisions.
Copper is a key economic indicator, and its demand is expected to rise. However, the market can be volatile.
Here are some resources to help you...
Nice reclaim of the broken horizontal and channel support on the COPX Copper miners ETF. Looks like we're headed back to the top of the years trading range at 41.80 which is an approximate move of 12% from current levels. Dr Copper being a proxy for global growth is always a positive for global markets.
As we embrace the possibility of an increase in demand for copper in the next age of technology robotics and renewable energy will be dominant. The demand for copper will keep on increasing and this will result in copper mining stocks looking attractive to investors fundamentally.
We are still early in the mass adoption of the future of tech and copper is and...
- Zigzag Elliot wave pattern is done
- Divergence on 4D chart with Lower Volume
- Risk about 1.5ATR and aim to ride up to 4.5ATR
- Good Long
- You can enter the strongest stock in sector instead of this ETF, I dont like the stocks because they have poor earnings
- Always try to use 2 timeframes
AMEX:COPX clearing weekly EMA30 today (needs a weekly close) and pausing just under the recent downtrend with a bullish looking candle IMO. Could be a nice move tomorrow.
$COPX - Global X Copper Miners ETF continues to show relative strength. The ( RSI ) Relative Strength Index has reversed this week to maintain above 50. The volume has also increased since the beginning of the year. Using Fibonacci Retracement Levels, the current Relative uptrend used the 50% Retracement Level as a support and reversal level.
I have been asked to show a trade opportunity am about to take & share it with you. All of the trades i have posted previously were trades that i have executed in the past, so this is something new. So, what are the possible outcomes we can expect
the price may never come to our DZ entry
the price may come into our DZ, we take the trade & the STP is triggered
The...
AMEX:COPX
The Global X Copper Miners ETF (COPX) provides investors access to a broad range of copper mining companies. It seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Global Copper Miners Total Return Index.
www.globalxetfs.com
Keep an eye on the copper x etf which tracks miners which are engaged in the mining of Copper. Every time we've seen a heavy spike in volume this year has resulted in a corresponding top or bottom for Copper miners. My guess would be another bottom could be forming here...
Copper miners in a long term consolidation phase since it hit its peak in 2011. Eventually it's forming a cup and handle pattern. Expect COPX to test the $47 level strong resistance in next 9-15 months, eventually getting into a multi year bullish breakout crushing all hit highs.
AMEX:COPX is setting up at support with a triple bottom pattern.
We can look for a move up to the resistance level @ $38 per share.
Check out NYSE:FCX , NYSE:SCCO , NYSE:VEDL for trading opportunities.
Here is a thing of beauty! Measured move is a 40% increase in the RATIO! So if copper goes up 60%, it's a bag
THe best thing is the target it evident and looks pretty accurate.
So we can use that measured move to infer the BO time. That will come on following tweets.
BF bullflag BO of a shoulder
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. ...
