COPPER Multi-year Support held. Strong Buy Signal.Last time we had a look on Copper (HG1!) was almost 2 months ago (July 17, see chart below) and it delivered an instant return on our sell as it got rejected at the top of the Rising Wedge, quickly hitting our 4.700 Target:
The price just broke above its 1W MA50 (blue trend-line) again this wee
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HG - Copper Setting Up For A Long Opprtunity At Extreme📊 Fundamentals first:
- Short-term: The copper market is turbulent—marked by sharp price spikes, crashes, and global shifts in stock levels.
- Medium-term: Despite forecasted surpluses from ICSG, technology innovations and steady demand (especially from China and green sectors) may underpin prices
return to solid buyers with confluences spells out continuation 1->3 : higher high which makes
number 2 a solid major low ,
as number 2 buyers surpassed
number 1 sellers making the number
3 pivot
3->4 : return to major buyers
what do I think will happen next ?
* hidden bullish divergence ( continuation )
* LRC 2nd standard deviation
* vwap reaction a
super volitile selloff brings us back to major =BUYers1->5 : solid uptrend ,
number 3 surpasses number 1 making number 2
a solid major low ,
number 5 surpasses number 3 , making number 4
a solid major low
5->6: a reutrn to the highly volitile solid major low
number 4
what do I think will happen ?
* this is just a theory, my opinion on what coul
return to solid buyers presents =BUY +mfi+rsi+obv+vwap+volume1->3 : higher high , number 2
solid major low
3->4 : return to number 2
what do I think will happen next ?
* hidden bullish divergence and also oversold
on rsi and mfi
*vwap median line on bar
* fractal bar with higher low on bar structure
* vpoc protecting stop loss
*obv breaking selling
a return to proven sellers presents a =SELL opportunity1->4 : represents a buildup of orders, a consolidation and determination
of where market players think the value of this asset belongs.
4->5: sellers decide the market is overpriced and begin to sell off
the copper futures, this flux of orders fills the market and due to supply
and demand the pric
Potential bearish flag pattern on Copper futuresPrice action on Copper Futures shows that buyers and sellers have been confined between two ascending lines since the beginning of August, taken from the low of US$4.3325 and a high of US$4.4800. While this offers a potential bearish flag pattern to work with, the base metal is seen rebounding from
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A representation of what an asset is worth today and what the market thinks it will be worth in the future.
Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
The nearest expiration date for Micro Copper Futures (Feb 2025) is Jan 29, 2025.
Traders prefer to sell futures contracts when they've already made money on the investment, but still have plenty of time left before the expiration date. Thus, many consider it a good option to sell Micro Copper Futures (Feb 2025) before Jan 29, 2025.