- The market registers higher peaks and bottoms, trading within a bullish channel since the end of October 2023, the medium-term trend is therefore bullish.
- Very recently, prices recorded a 4th impact on their bullish trendline, following a sell-off since the failure below the $397.40 area.
A strong positive reaction is currently recorded in the shape of a...
Copper showed up in the TrendCloud Scanning system this morning and we took the trade short in the live trading room.
Momentum and trend were both down across multiple timeframes according to TrendCloud.
Price pulled back to our 5 minute supply zone and took profits at $100.
Another winner trade for TrendCloud!
If you want to use a trading system that's...
Copper is bullish on its 1D technical outlook (RSI = 59.350, MACD = 0.033, ADX = 19.471) as it is at the top of the 2023 Channel Down, but having failed to cross over it, opens the way for a big decline in the first quarter of 2024. As you can see the Channel Down that started last January looks very similar to the one in 2012/13. Both emerged after a Global peak...
Last time we looked at Copper (HG1!) 1.5 months ago (October 24), we caught the most optimal bottom buy signal:
The price action didn't only hit our Target but also broke above both the January 18 2023 Lower Highs trend-line and the 1D MA200 (orange trend-line). The rejection that took place on Monday though, is giving rise to a new Falling Wedge pattern with...
Copper futures have experienced a noteworthy trajectory, influenced by various market factors. The bottoming of 30-year bonds in late October, resulting in lower yields, has coincided with a rally in copper prices. Interest rates play a pivotal role, acting as a major headwind to construction spending and financed projects, thereby augmenting demand for copper.
A...
COMEX
On the weekly chart, a technical pattern has formed and the crossing confirmation above 3.85 will push the price up to 5.05 passing through several levels of resistance - shown on the chart.
Trading above 5.05 for more than a month, the long term target will be 5.6
Stop loss should be considered - 3.75
#Copper Market Levels:
Resistance: 712
Support: 708
Trading Strategy:
A trade plan is suggested only if either the resistance at 712 or the support at 708 is breached.
Three years span 2017-2020 fractal matching 2021-2023 along negative trifecta:
1- High grade production glut now forecasted to exceed usage by 467,000 metric tons in 2024
2- US Ratings downgrade poised to worsen Treasuries ig, global juncture, EZ in recession, China's slowdown
3- Extended geopolitical tensions potentially broadening to Taiwan as signaled by the...
Copper price continued to provide negative trades affected by the frequent stability below the additional barrier at 3.7280, to manage to reach some negative stations by touching 3.6100.
Also, RSI stochastic continues to provide the negative momentum to allow us to suggest forming new negative waves to attack the additional support near 3.5000 followed by...
Don't know how I got down this rabbit hole, BUT when #copper really bottoms vs #palladium, this chart is telling me that the #dxy is toast.
Has the #USD truly topped?
1989 - 2004 experienced years of sideways action then to a final blow off breaking out of pattern onto the next level. This blow off then resulted into a financial crash.
From 2006 (the first top of the '08 crash) to 2023, the market has also been sideways exactly like the past but of course in its own unique way.
Based on analyzing coppers trade pattern it...
Dive into the intricacies of corn price movements in this focused video analysis🎥. We'll tackle key support levels, observe the recent price plunge💥, and discuss what could be in store. Remember, I'm not a commodities expert, just a passionate observer👀 sharing my insights. Hop on this rollercoaster ride and let's decode the chart together! 🚀📊🤓
Got a take on...
Copper (HG1!) is trading within a Channel Down pattern since the June 29 low and since 5 days, it entered the 11 month Support Zone. The 1D MACD just formed a Bullish Cross, which has been a buy signal the previous 2 times within the Channel Down.
Every bearish sequence in 2023 has seen a rebound that hit at least the 0.618 Fibonacci retracement level. This is...
The copper price has reached the lower edge of the pink trend channel within the turquoise target zone between $3.59 and $3.51 and has already shown a reaction to this line. Now, a far-reaching rise should occur, beyond the resistance at $4.19. There, the magenta wave (B) should then be finished and it should transition into sustained descents to the green target...
