A technical analysis of a trendline breakout and subsequent retest indicates that a short position on HG futures could be a favorable option at present.
Copper prices dropped to their lowest point in almost seven weeks on Friday, due to a stronger dollar and weakened demand in top consumer China. The rising value of the dollar made metals more expensive for...
As you can see we are at the bottom of a broadening formation and just below the support of an uptrend channel , I expect a move to the up side in the next couple of weeks
Copper is to commodities, what tech stocks are to equities. They are both historically cyclical but also promise potential long-term growth. Tech stocks were down last year, not because the underlying technologies were dead, but because central banks were aggressively tightening monetary policy. Copper too endured the same fate on account of macro headwinds...
Title: Copper Futures (HG1!), H4 Potential for Bullish Rise
Type: Bullish Rise
Resistance: 4.5770
Pivot: 4.2155
Support: 4.1090
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to possibly head towards...
Title: Copper Futures (HG1!), H4 Potential for Bullish Rise
Type: Bullish Rise
Resistance: 4.5770
Pivot: 4.2155
Support: 4.1090
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to possibly head towards...
XCUUSD - Intraday - We look to Buy at 4.024 (stop at 3.984)
Selling posted in Asia.
The bullish engulfing candle on the daily chart is positive for sentiment.
Short term momentum is bearish.
A lower correction is expected.
We expect prices to stall close to our bespoke level (4.020).
Our profit targets will be 4.124 and 4.144
Resistance: 4.080 / 4.100 /...
Title: Copper Futures ( HG1! ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 4.2215
Pivot: 4.1205
Support: 3.9245
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market.
Expecting price to continue heading down towards the support at 3.9245,...
Cup and Handle formed on Copper
Price >200 Bullish
21>7 Bearish
RSI <50
Target $4.80
Mixed - Bullish bias
Resources definitely showing upside to come in the medium term, but right now there is a but of a breather which is causing a bit of selling pressure. We need to weather through this sideways range before the market chooses a direction. My bias is up...
Title: Copper Futures ( HG1! ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 4.1205
Pivot: 4.0470
Support: 3.9245
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market.
Expecting price to continue heading down towards the support at 3.9245,...
Price action on copper has caught our eye, as its pullback from the YTD highs has paused above the November highs despite a surging US dollar. RSI (2) is overbought on the daily chart, and yesterday’s Doji held above the 20-day EMA. It's also holding above $4.00, whilst money managers and large speculators have continued to increase their net-long exposure to...
The MCX:COPPER1! is in uptrend despite the counter COT commercial index direction. Additionally, the strong resistances on weekly basis may give support. Bullish continuation is possibel only daily close above this strong resistance area.
SL: 4.1 (last local low)
1. Target: 4.475 ( next resistance on weekly basis)
2. Target: 4.55( next resistance on daily...
As the DXY appears to have marked the beginnings of a relief rally following exhaustive sell pressure and Friday's strong close. Copper looks to see a continuation of the Bear Flag setup.
This move would likely mark the second leg of the Bear Market a severe recession which is my working hypothesis as the substantial rate of hikes from the Fed has yet to...
Title: Copper Futures ( HG1! ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 4.2300
Pivot: 4.1165
Support: 3.9245
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market.
Expecting price to continue heading down towards the support at 3.9245,...
Title: Copper Futures ( HG1! ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 4.2300
Pivot: 4.1165
Support: 3.9245
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market.
Expecting price to continue heading down towards the support at 3.9245,...
Looking at the H4 chart, my overall bias for HG1! is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market.
Looking for a sell entry at 4.1165, where the overlap resistance is. Stop loss will be at 4.2065, where the overlap resistance is. Take profit will be at 3.9335, where the overlap support is.
Please be advised that...
●● Preferred count
● High Grade Copper - COMEX (HG.F),🕐TF: Q1
Fig.1
Fig.1 gives a picture of counting the long-term waves of the "Supercycle" degree, which make up the global impulse . The wave count is already more than two years old, although the first sketches with some assumptions appeared on our pages back in 2019 .
Wave (V) is expected as...
Title: Copper Futures ( HG1! ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 4.2900
Pivot: 4.2200
Support: 4.1105
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market.
Expecting price to continue heading down towards the support at 4.1105,...
