As of April 23, 2024, CAPITALCOM:COPPER is trading right above the multi-week high (from January 2023).
CAPITALCOM:COPPER moved above this resistance last week and is currently testing it.
With the stop loss below the low of last week, I think it is appropriate to open a long position here with the target price around 5, as shown in the chart.
Copper is crushing it!
I've been trading commodities for a long time now and thanks God is finally showing. Besides Oil, copper was one of the best trades this last quarter:
(the second could've been maintained for better gains) but this is the way I trade commodities,
Check the trend (very simple, up or down)
Look for chart patterns (we see a big Head and...
COPPER, What's the deal with this shiny brown stuff that I hear everyone steals?
Should I steal copper or is there a better way?
What do I need to know?
What is the fast summary to catch me up?
First, let's talk about the technicals.
Some massive trends, all strong.
price targets labeled
there are numbers that go pretty high, but it seems a retracement might be...
Copper continues to rise in price.
In addition to the fundamental factors, there is some sentiment from the options market that the quotes may rise further.
Call 4,3 $ - 56 days before exp. The unusual interest in this level suggests that there's a positive sentiment among option traders.
Technicals
Prices hit fifteen-month highs this week, extending the recent rally. Copper is on the verge of another breakout, eyeing the January 2023 highs (4.356), which could open the door for further gain towards 4.579.
On the other hand, the Relative Strength Index (RSI) did not follow the price action and diverged lower on the H4 chart. This can lead to...
Pair : Copper CU
Description :
Exp FIAT as an Corrective Pattern in Short Time Frame with the Breakout of Upper Trend Line
Break of Structure
RSI - Divergence
Consolidation Phase in Short Time Frame
Completed " 1234 " Impulsive Waves
Copper is setting for a breakout after a record high for the PMI index from ISM, published on Monday. That might be a game changer for commodity markets, as it might point to a production recovery and give relief against the recession narrative.
Some commodity markets are already moving (such as Crude oil, Gold, or Cocoa), while others are consolidating around...
Targets met. Activity in an options portfolio that was poised to rise before the market rose (INSIDER) resold 4.14 calls into the market. Made 400% on that strike. How about that? Is it worth studying options strategies and tracking the activity of the big players?
Every day, we are seeing higher volumes in options, with predominantly bullish option portfolios targeting the 4.05-4.1 range. Graphically, after the data release, there is consolidation under the resistance level, which reinforces the possibility of an upcoming upside shot.
Pair : Copper - CU
Description :
Rising Wedge as an Corrective Pattern in Short Time Frame and Rejection from Upper Trend Line
RSI - Divergence
Break of Structure
Completed " 12345 " Impulsive Waves at Daily Resistance
🚀 Copper Breakout Potential 🚀
Asset: Copper ($3.86318)
1. Mirroring Silver : Copper, like Silver, has formed a symmetrical triangle pattern, but with a shorter timeframe of 2.5 years. This pattern similarity across assets can be significant.
2. Crucial Zone : Copper is currently trading within a narrow range near its resistance level. This zone highlights...
Pair : Copper - CU
Description :
Completed " 1234 " Impulsive Waves
RSI - Divergence
Break of Structure
Bearish Channel as an Corrective Pattern in Short Time Frame with the Breakout of the Upper Trend Line and Retracement
Pair : Copper
Description :
Rising Wedge as an Corrective Pattern in Short Time Frame and Rejection from Upper Trend Line
RSI - Divergence
Break of Structure
Completed " 1234 " Impulsive Waves
Fibonacci Level - 78.60%
