Copper Futures
["The candles are my news, and based on what these candles are trying to tell me is that we can trickle down lower over time. Would be great longterm entry buy around our 50% fib line, if we show signs of bullishness. This is not financial advice "]
The commodity Copper has recently ended its correction as the Expanding Flat and nowit has started the big impulsive move.
The world's demand for Hg/copper is reduced from the previous weeks, this could lead to a correction in copper prices. there are sentiments to consider for trading COPPER. I usually use 2 sources to see the sentiment of big players: 1. LME : London Metal Exchange is a futures and forwards exchange with the world's largest market in standardized forward...
Bullish indicators ind RSI and MacD indicate a long term bullish trend.
my copper analyse prevision 🙏If you have an idea that helps me provide a better analysis, I will be happy to write in the comments🙏 ❤️Please, support this idea with a like and comment!❤️
After Copper managed to rise to the 4.775 area in late october, the price has been range bound and in a slight downtrend. Price has been trading between 4.19 and 4.50 since this time, Copper is currently trading at 4.294 and appears to be moving to up to potentially retest the 4.42 area and beyond. The RSI indicators on the 4hr chart are around oversold terrorties...
Copper had a triangle breakout few days ago, it is providing a long entry again as the price is currently retesting the breakout post having a minor correction. Risk reward remains highly favorable given the current setup.
Copper has Fallen in price towards a key support level as well as a trend line that has been respected multiple times. The RSI levels are also in oversold conditions at the moment, with all of these factors in play it seems likely that the price will go up from here. The targets for copper to the upside are at the recent highs of 4.4420 which is a heavy liquidity...
Copper Shorts for 13:12:20 (UTC) Wed May 27, 2020
I entered this bear trade on 2.3900. Why? I think the odds are good it will reverse back to the bottom of the trend line. As it tried to break the line for almost 90 minutes, but unsuccessfully. Technically we also have a divergence on the RSI and WaveTrend Oscillators. The major indices don't show strength either, so this could also have an impact on the copper...
This thing is likely shoot good. Good breakout with gap. Bullish rejection from monthly pivot. When price breaks away the trend line with gap it rarely makes a trendline retest. Does this mean that oil might rise? Copper and oil have had a strong positive correlation at 0.84. THIS IS NO FINANCIAL ADVISE.
Call No. 44 Copper Buy @ 2.600 Stoploss @ 2.550 Target @ 2.700 RR 1:2 Note : All calls has RR more than 1:2. Do not risk more than 1% of equity on every call. Please follow stoploss religiously.