While the concerns of a Global Recession are not entirely out of the question, the supportive economic activity we have seen in the U.S. should indicate that the Fed may be closer to achieving its soft landing goals. Construction and housing remain robust where mined resources such as copper are in peak demand. Asia and India have also seen a pick-up in activity...
As everyone knows, China is one of the largest consumers of copper. And it is the demand for copper from China that largely forms the market for this metal. For some time now, demand has fallen sharply and pushed copper quotes down. Copper is a very interesting trading instrument. That's just to sell more in all likelihood, if you have to, then only on very short...
The copper price is slowly but surely breaking away from our blue target zone between $3.7730 and $3.5445. Since the price has already placed its low of the magenta wave (x) within this zone, we expect significant rises above the resistance at $4.19. It should then go down to our green target zone between $3.0860 and $2.5965.
They call copper "Doctor Copper" because it's said to forecast the overall world economic conditions on account of being tightly wed to manufacturing.
Well, what people are really yammering about with that over the last 20 years is whether or not the Chinese Communist Party is healthy, and the world by proxy being healthy because it tied itself to the most...
Copper, in my opinion, undeservedly has low popularity in the trading community. I heard the opinion that there are few trading situations on the chart of this metal. I do not want to argue, but I think it depends on what angle we look at the chart from, and also on what trading methods we use. Recently, copper quotes bounced off the support level of 3.7. I think...
Copper - Level 710 Is big Big deciding Points
Time Frame - MONTHLY
Objective - TRENDLINE major Support LINE
Make or Break area 710.
1. till respect demand Zone line 710 we can see Again bounce towards 740 to 785+++
2. If Break demand Zone than we can see free fall as like water fall 680 660 to 600
3. long term we can see Again 450 400 level...
COMEX:HG1!
Copper is breaking down.
Looking at the .702 (sneaky fib) retracement as a price target.
I'm thinking price gets down near $2.88 sometime during April 2024.
Fat_Fat
At the moment, we have a resistance line from the high of April 18, 2022, drawn through the high of January 18, 2023. Most likely, it will become the first milestone that will have to be overcome before the start of growth.
The copper price is back in our blue target zone and dedicates itself to extending the low of its blue wave (c). After this fall, we expect significant rises in the context of the magenta wave (y) above the resistance at $4.19. In the short term, speculative opportunities are thus given here on the long side with the active blue target zone. Subsequently, however,...
According to the Butterfly pattern, the Fibo perfectly converges the decline to the target of $ 2500-2600. According to the terms, they should be there within a year. There will be a great point for going to long.
Copper (XCUUSD) is trading within a Triangle pattern since the March 07 2022 High. The price is currently above the 1D MA200 (orange trend-line), supported twice by the 1D MA50 (blue trend-line). The 1D RSI shows that we may be replicating the July 15 - September 20 2022 fractal.
If the price breaks above the top (Lower Highs trend-line) of the Triangle, then...
We are observing an intriguing shift in the copper market that might offer a potentially profitable trading opportunity. On the daily timeframe, copper prices are manifesting a noteworthy breakout from a symmetrical triangle pattern, an event typically associated with substantial price movements.
Moreover, on the hourly timeframe, the metal is crafting a fresh...
