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Micro Copper FuturesMM

Micro Copper Futures

4.7120USDD
−0.0110−0.23%
As of today at 11:43 GMT
USD
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MHG1! trade ideas

COPPER Bottomed Out: Long Opportunity!Going Long on Copper: I’m taking a long position in CAPITALCOM:COPPER at this level. If it retraces, I plan to add to my position down to around 4.15. The weekly downtrend has ended, and this week’s price action has erased the previous bearish expansion bar. There are signs of bullishness on smaller timeframes, and the daily chart shows an active uptrend for the coming week. It looks like the low may be in on this one. COMEX:HG1!
COMEX:HG1!Long
by ZelfTrade
Copper is Next to Move, Why?Copper is next to move because the Chinese consumers may be coming back. In last December's tutorial, we discussed how Gold was breaking above $2K and set to move higher, which it did. In April, we anticipated that Silver would soon catch up, and it did as well. Now, I believe Copper will be next, not just based on technical but also on fundamentals. Micro Copper Futures Ticker: MHG Minimum fluctuation: 0.0005 per pound = $1.25 Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
CLong
by konhow
1
Copper testing 4.50/ATHCopper is testing all time high right now. I published this idea almost 3 years ago, oh my, trading is not for impatient people : Currently there is short term speculation that copper buyers might buy a substitute, and news that producers are reducing output. Short term! The news is the manifestation or what is happening on the chart, or is it the other way around? Both the talking/news/speculation and chart are asking the same question : Is the price actually going to go up, past $4? People finding substitutes is probably very minor and just an answer to prices getting high, physical buyers are shy - FOR NOW - about buying at all time high. Literally the same as traders. Exact same thought process. Substitutes are not as good, it may only cover something tiny like 3% of the demand. Also output getting cut pushes prices up, why are producers struggling to maintain margin at these high prices? Maybe everyone needs to stop coping and realise inflation is a reality and bear were right. I cannnot pinpoint the bottom. Any strategy could work I imagine, buying a pullback when it strats going up, buying breakouts, trying to catch the short term bottom without a stop to tight (or it's just catching falling knives), some macd cross strategy, dollar cost averaging. 61.8% fib, previous high retest, buying on some trendline or moving average. Also patterns such as flags. From experience I believe the entry strategy isn't that important, what is most important is cutting losses, taking good trades based on an intelligent analysis, and high risk rewards - being able to cut trades quickly regardless of being wrong or right. No matter the entry strategy I am convinced of two things: No matter the strategy FOMO never works out, and I always use a stop. I am not 100% convinced it will go way up to $8 or even above 5 but I do not care about being right, I care about taking risks to make money. This caught my eyes 3 years ago and it looks juicy!
CLong
by MrRenev
1
Copper Futures have shown volatility with significant price move Price Movement Current Price: The current price is around $4.3430 per pound. Recent Trend: There was a significant upward movement earlier in the year, reaching a peak around $5.0810, followed by a correction. Support and Resistance: Support Level: Approximately at $4.1445, marked by the 0.618 Fibonacci retracement level. Resistance Level: Around $4.5000, near the recent highs. Volume Analysis Volume: The volume appears to be relatively stable, with occasional spikes during significant price moves, indicating strong trading interest during these periods. Seasonal Patterns Monthly Performance: Historically, months like February, March, and April show varied performance with some years experiencing gains while others see losses. September and October have mixed results, but November generally shows positive performance. Yearly Trends: Over the years, there have been fluctuations in monthly performance, with some consistent patterns in specific months. Technical Indicators Fibonacci Retracement: The chart uses Fibonacci levels to identify potential support and resistance levels. The 0.618 level is crucial as it often acts as a strong support during corrections. Conclusion Copper Futures have shown volatility with significant price movements and corrections. Traders should watch for support at $4.1445 and resistance at $4.5000 while considering historical seasonal trends for potential insights into future movements.
CLong
by curtischangTW
Copper Technical View Copper Technical View: - Short term copper looks bullish till it is able to hold above $4.0420. Key resistance now is at $4.3170. If prices are able to sustain above these levels we can expect the next resistance area in the supply zone around $4.4770. - RSI is up at 59.92 which is adding to the bullish move. - Intraday support is around $4.2830 and break below this level may see prices slip towards $4.2370-$4.2320 zone. - Short term strategy is buy on dips around $4.2320-$4.2330. - Weekly time frame indicates flat to bullish trend. Prices may move towards $4.3580 and key weekly resistance is at $4.6995. Break above these levels we can expect good upside move towards $5.0450 zone. - A move above $5.1990 will lead to longer term bullish trend. - On a Monthly time frame, we are moving in a swing bearish leg at present while the order flow is bullish. Only after a break below $3.9200 trend is expected to turn bearish. Monthly resistance is at $4.7035.
CLong
by DEEPASH_1234
Smart Money Positioned to LONG Copper - COT StrategyDISCLAIMER: This is not trade advice. This is for educational purposes only to demonstrate how I am looking to participate in this market. There is significant risk involved in trading, do your own homework and due diligence. COT Strategy LONG Copper (HG) My COT strategy has me on alert for long trades in HG if we get a confirmed bullish change of trend on the Daily timeframe. COT Commercial Index: Buy Sentiment: Advisors very bearish is actually...bullish. OI Analysis: Multi week down move has seen OI decrease drastically while Commercials have added to longs = bullish. Valuation: Undervalued vs Gold & Treasuries Bullish Spread Divergence Supplementary Indicators: Acc/Dist & %R Remember, this is not a "Long Now" idea. These indicators are not timing tools. They simply tell us that this market could have a move of some significance to the upside, which we will participate in with a confirmed Daily trend change to the upside. Good luck & good trading.
CLong
by Tradius_Trades
COPPER Rejected on the 1D MA50. Will it rebound or break lower?Copper (HG1!) got rejected yesterday on the 1D MA50 (blue trend-line) for the first time since early July. This is a clear Bearish Leg on a potential Channel Up pattern, so technically, it may form a bottom on its Higher Lows trend-line and rebound. If it does, our Target will be the 0.786 Fibonacci retracement level at 4.900 as on the January 17 2023 rebound. If on the other hand the price breaks below 3.800 and the Higher Lows (dotted) trend-line, we will take the loss on the buy and sell, targeting 3.3500 (top of 2 year Support Zone). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
C
by TradingShot
1
Supply Risks may support Copper Financial Futures PriceSupply Risks may support Copper Financial Futures Price Dow Jones News Wire August 16,2024 : "Base metal markets are digesting weak Chinese industrial output data and supply-side issues, A strike at BHP's Escondida copper mine in Chile could affect more than 5% of the global supply, while several mines in Chile have yet to finalize wage discussions Even a slight loss in supply from these labor negotiations could cause the market deficit to increase. That is capping concerns about weaker demand over the next few months" Extreme Real Value Indicator gives reversal signal on the weekly chart. Price Target levels are shown on the chart.
CLong
by chartreader_pro
1
COPPER signaling the start of rate cuts? Potential danger ahead.Copper (HG1!) completed two straight red months following May's High at the top of the 3-year Rising Wedge pattern. Last time the commodity formed this pattern was back from May 2006 to September 2008. In fact the recent May 2024 Higher High resembles that of May 2008, whose rejection broke the Rising Wedge downwards. As you can see, during both patterns, the US10Y (orange trend-line) stopped rising and turned sideways on Lower Highs, while the U.S. Interest Rate had peaked and started falling. What 2006 - 2008 suggests, is that possible rate cuts may be ahead of us, pragmatically the markets have already priced this to a large percentage in September. But at the same time, it highlights the danger of a market-wide collapse, as the first month after the September 2007 rate cut, the stock markets peaked and the U.S. Housing Crisis begun. What could be different this time and avert a new financial crisis of such proportions is that the stock markets haven't shown any signs of correcting yet. As a result, potential rate cuts may have a mostly positive bullish continuation effect as post July 2019. What do you think will happen next? Bullish continuation or new Bear Market? ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
C
by TradingShot
2
Copper (HG) - Look for Longs?While the decline in copper persists, @HG is nearing areas of previous demand on intermediate-term timeframes. Specficially, we will be watching the industrial metal's action between the prices of 4.1130-4.0605 (with hypothetical stop lower @ 4.0250). Given the current momentum and potential add'l downside per larger timeframes, we recommend watching for micro-TF trend violation/reversal confirm signals before establishing positions. This idea is bolstered by a backdrop more broadly of metals having pulled back and a AMEX:USD that looks vulnerable vs. physical assets over the longer-term. Of course "Dr. Copper" is more closely linked to the global economy vs. GC (which we like better), but price, ultimately, remains undefeated + copper will become a value buy at some point... Godspeed, JHart
CLong
by JHartCharts
COPPER ANALYSIS The market from May 2021 have been corrective in nature, I am currently counting as expanded flat for intermediate wave 2. The market is currently in minor wave C which will be bearish impulsive wave. If this count is valid, it will drop the market to the price range of $2.8290 to $3.1555 per lb. i.e 0.5 to 0.618 fib level retracement of intermediate level 1. The market still remains the final arbiter, and the count will be updated as the market progresses.
C
by Clapperton_
2
Copper (HG) Double Three Elliott Wave Correction in ProgressShort Term Elliott Wave View in Copper (HG) suggests that correction from 5.20.2024 high remains in progress. The internal subdivision of the correction is unfolding as a double three Elliott Wave structure. Down from 5.20.2024 high, wave (W) ended at 4.305 and rally in wave (X) ended at 4.7015. Wave (Y) lower is in progress as a zigzag structure. Down from wave (X), wave ((i)) ended at 4.551 and rally in wave ((ii)) ended at 4.657. The metal then extends lower again in wave ((iii)). Down from wave ((ii)), wave (i) ended at 4.476 and rally in wave (ii) ended at 4.6025. The metal turns lower again in wave (iii) ended at 4.2 and wave (iv) rally ended at 4.242. Wave (v) lower ended at 4.162 which completed wave ((iii)) in higher degree. Rally in wave ((iv)) is currently in progress to correct cycle from 7.10.2024 high in 3, 7, or 11 swing before it resumes lower again. Near term, as far as pivot at 4.701 high stays intact, expect rally to fail in 3, 7, or 11 swing for further downside. Potential target lower is 100% – 161.8% Fibonacci extension from 5.20.2024 high. This area comes at 3.6 – 3.81 where support can be seen.
C
by Elliottwave-Forecast
Gold's Next Big Move: Is This the Reversal Point?4-Hour Chart Analysis Trend Identification: Higher Highs (HH): The chart shows a consistent formation of higher highs (HH) which indicates an overall uptrend. Higher Lows (HL): The chart also demonstrates higher lows (HL), further confirming the uptrend. Key Levels: Resistance Levels: Around 2,480 and above are marked by HH. Support Levels: 2,429.42 (1HR LQZ / Reversal Point) 2,391.39 (4HR LQZ / TP 1) 2,349.05 (TP 2) 2,288.09 (TP 3) 2,265.37 (TP 4) Price Action: Triangle Pattern: A triangle pattern formed in June indicating consolidation before a breakout. Current Movement: The price has moved up to a higher high but is currently in a retracement phase, testing the 1HR LQZ / Reversal Point around 2,429.42. Projection: Potential Reversal: If the price holds above the 1HR LQZ / Reversal Point, it may indicate a reversal back towards the higher levels around 2,480. Support Tests: Failure to hold may lead to testing lower support levels at 2,391.39 (4HR LQZ / TP 1) and potentially further down to TP 2, TP 3, and TP 4. 1-Hour Chart Analysis Detailed View: Provides a closer look at the recent price movements. Confirms the higher highs observed in the 4-hour chart. Key Observations: Recent High: The price recently reached a new high around 2,480 before retracing. Immediate Support: The price is testing the 1HR LQZ / Reversal Point around 2,429.42, aligning with the 4-hour chart observations. Trading Opportunities: Long Position: If the price shows strong bullish signals and holds above the 1HR LQZ / Reversal Point. Short Position: If the price breaks below the 1HR LQZ / Reversal Point, with targets at lower support levels identified in the 4-hour chart. Summary The charts indicate an overall uptrend with recent higher highs and higher lows. Current price action is in a retracement phase, testing key support levels. Monitoring the 1HR LQZ / Reversal Point will be crucial for determining the next move, whether it will resume the uptrend or test further support levels. If you need further analysis or specific trade recommendations, feel free to ask!
CShort
by Adlercon333