COPPERWave C of a zigzag pattern is underway and forming ending diagonal pattern that indicates the reversal pattern.
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Copper is an essential industrial metal used worldwide. Copper prices are followed in financial markets around the globe and the metal is growing in popularity. Copper is widely used in construction and because of its electrical properties is found in wires and circuit boards. Copper is mined in open mines around the world, with Chile and the United States leading in overall copper production. The demand for copper is increasing as countries such as China and India continue to develop, while the supply remains tight. The growing demand and constrained supply is likely to keep copper prices volatile in the near future. Copper prices are commonly quoted in USD.
Copper to Gold ratio shows signs of weakness if not panicCopper is an industrial metal,
Gold is valued in times of money panics since no counterparty.
both are metals.
both theoretically benefit from inflation.
One is clearly losing ground to the other one.
there is information there.
Copper Long5.3 Risk to Reward
Swing trade idea.
You may want to find some structural breaks on the lower time frame to get more refined entries and get a better risk to reward ratio.
This trade is probably a 2/5 probability idea, so still a positive expectancy. Just expect this to fail 60% of the time thou
Copper Long - 11RRLong trade on Copper.
Wave analysis + Bull Flag
I'm expecting the most likely move for copper is a move up to 4.85.
I will be looking for longs once price goes below the orange line at the entry tool.
What Doctor Copper is saying this week about the economyDr Copper has a PHD in economics. narratives can be wrong, be price action is closer to truth.
Lots of stories about no landings and china re opening. But price action is saying something else.
Bull Flag pattern A bull flag pattern is a chart pattern that occurs when a stock is in a strong uptrend. It is called a flag pattern because when you see it on a chart it looks like a flag on a pole and since we are in an uptrend it is considered a bullish flag.
Strong economyCopper price shows inflation didn’t die yet and it will continue to grow.
Copper price will be the real threat soon.
Higher copper price means higher inflation.
Solid buyThis is not magic, this is the fact of strong buying in the area of the bullseye 3.72, take profits and exit at the level of 4.60 boom
Copper Support & ResistanceCopper is struggling at resistance. Often when Copper Struggles, so to does the S&P500.
Copper can be ultra sensitive to the Dollar and yields, so watch it carefully as an economic barometer.
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