Dr Copper Monthly looking to rally medium termMonthly chart looking to rally
initial Divergence trade has played out, now it looks like the path of least resistance is up
QCH2024 trade ideas
Copper shark attackIf you trust the recent 9/20 day moving average crossover enough to short copper, today's bounce back toward the 9MA might be a good one to sell.
When setting a profit target to the downside, a harmonic trader could project a shark with its C-point (D-point in the diagram) in the neighborhood of 3.5365 (red circle), for about a USD0.25 profit per contract. This would work out to USD625 for the mini contract or USD3125 for the full contract.
If the shark went on to complete by drawing a full CD leg (green arrow to green circle), that would be another USD0.25 to the upside.
Whither copper?On the left we see in formation the final leg of a nice ABCD harmonic pattern in copper futures— if it forms. The moving average crossover suggests otherwise.
For further guidance, we can examine Dr. Copper's price pattern since commodity prices started to settle down in early 2022.
Your move. We would find it acceptable not to do so for at least a few days.
Sell march copper 383.60. Stop 386.90, tgt 372.80Sell march copper 383.60. Stop 386.90, tgt 372.80
Copper closed below a key support level
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The recommendations contained in this letter is of opinion only and
does not guarantee any profits. These are risky markets and only
risk capital should be used. Past performance is not indicative of future results**
hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown. in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program.
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Im bullish all comodities, especially Energy and selective metalThe dollar is going lower, so longs in selective commodity make sense
Hammer low in Dr. Copper!
COPPER : REBOUND- 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 piercing price pattern, following a bullish divergence registered by the Stochastic indicator.
- This is a bullish rebound situation. Indeed, bullish investors appear to be numerous and powerful enough to prevent the market from breaking its downward trend line. The next targets can be located at $387, $391.10 then $397.40 and finally above $400 by extension
Nice Win on Copper today! 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 already making money then click the link in my profile.
buy march copper 379.20 limit, if filled, stop 371.60buy march copper 379.20 limit, if filled, stop 371.60
COPPER: Long term sell signalCopper 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 and then rejection to an oversold 1W RSI bottom.
It is very interesting how similar the ranges are, both Channel Down bearish legs have been around -18.50%. We are turning bearish on the most optimal technical level and aim for another -18.50% decline (TP = 3.2500) or up when the 1W RSI gets oversold (under 30.000).
See how our prior idea has worked:
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COPPER Correction to accelerate lower.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 the current Bearish Leg on full display. The bearish signal is already confirmed as the 1D MACD has completed a Bearish Cross, and so far the sequence is very similar to the August 01 rejection.
As a result, we are bearish on Copper, looking to take advantage of today's green 1D candle and short near the closing in anticipation of being close to the peak. Our short term Target is 3.6100, which is the 0.786 Fibonacci retracement, a symmetrical level where the price bounced on August 17. Selling can only be extended if the green Support Zone breaks.
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Copper on the Verge of a Break-Out!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 significant driver for the copper market has been China's industrial production figures for October, surpassing expectations with a 4.6% increase compared to the anticipated 4.4%. This positive data has added conviction to the strength of the copper market. Traders are eagerly anticipating the release of the next Chinese Industrial Production numbers on December 14th for further insights.
Headwinds for Copper:
The upcoming week presents challenges for risk assets, and the interest rate environment, as various job-related data such as ADP Nonfarm, Avg Hourly Earnings, Unit Labor Costs, and the Unemployment rate are scheduled for release. The evolving credit cycle poses potential benefits for commodities, with copper serving as an indicator for the economic landscape.
Support & Resistance Levels to Watch:
To witness sustained strength in copper, market participants are keenly watching for a break and close above the critical level of 3.92-3.96. Should we gain traction above this level, the psychologically significant 4.00 level looms as the next significant hurdle. The intricacies of copper futures reflect the intricate dance between economic indicators, global production figures, and the evolving credit cycle, and will continue to be a closely watched commodity in the new year.
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Disclaimers:
CME Real-time Market Data help identify trading set-ups 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
*Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services.
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Copper Futures to target 5.05 after crossing 3.85COMEX
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 Levels: BUY OR SELL?#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.
Copper 2017-2020 FractalThree 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 preventive Korean equities short selling ban
🧽 Mister Poper. Meet The Cleaner Of Your DreamsCopper 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 monitoring its behavior to manage to confirm the upcoming trend.
The expected trend: Bearish
Copper Futures ~ November TA Outlook (Daily Chart)COMEX:HG1! chart mapping/analysis.
Note: TradingView chart B-ADJ adjusted for contract changes
Copper Futures attempting to build bullish momentum off evolving China economic stimulus narrative.
Copper vs palladiumDon'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?
Copper - Once again a snapshot of the '05 era compared to now
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 seems that we're located in the times of 2005, three years before the '08 crash.
lets say the market is due to crash in ~2025 this exactly lines up with the clues in the past to say the market will crash in 2026.
With this data you can match your research to add confluence in your investment strategy, trade ideas, and much more.
*Not Financial Advice - DYDD*
Corn Price Rollercoaster: A Technical BreakdownDive 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 these corn price moves? 🌽Drop your thoughts in the comments below. Let's get a conversation going!
COPPER Channel Down bottom buy opportunityCopper (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 good enough for us to buy and target 3.7600 (0.618 Fib).
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Copper: Jump off! 👟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 zone between $3.08 and $2.59.
5 Steps:The Secret Of Copper--
#1-The Copper Way To COMEX.
Copper seems to be following a certain strategy to the downtrend.
#2-The Secret To Copper Is Simply 50 EMA.
When you look at the trend-following indicator you begin
to understand what exactly is happening
#3-The EMA Way To Copper!
Following the trend is one of the key factors of this strategy.
#4-Need More Copper?
Copper seems to be correlated to the real estate market right now
#5-How To Buy Copper.
Need I remind you that copper is used in the construction of homes.
Disclaimer: This is not financial advice do your own research before you trade.
