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.
All information given inside the chart. This is an updated for the previous sell trade of mine. Now my counts and view changed according to the EW count and high probability trade idea. Understand the wave patterns and the counts mentioned in this chart for this metal. This is a W,X and Y formation not an impulsive wave structure. I just shared this for ...
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This level seems like it has some kind of importance.
https://www.tradingview.com/x/LKHH23Mr/
Got this EW count, makes sense to me:
https://www.tradingview.com/x/n23iztRj/
We retraced 0.382 first high TF wave, then right now we are on 0.618 next wave...
Major level imo...
Signs from multiple markets are indicating a rally in copper.
- Strength in equities
- US dollar rally exhaustion and Australian dollar strength
- Metals possibly bottoming
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Hello Traders!
Copper broke out of its uptrend, now all thats left is a continuation pattern for final confirmations that the trend will continue bearish.
Copper was doing good during last two years as it rallied from sub-2 to above-3 levels.
But the structure is corrective so the wave C finished the correction being equal to wave A by size.
Then we saw a breakdown below the white support this March.
After that there was a healthy pullback, which was rather menacing as it almost broke the earlier top but failed just ...
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All information given inside the chart. I posted on may 23rd in bearish view and Jun 7th as bullish view. It went well what i expected but i booked profit and exit but i didnt sell this metal shown in the chart posted on 23rd may...because i got another alternate count on jun 7th. So now it confuses me. I am staying out and be watching this metal to short with ...
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Copper has once again fired an uptrend signal, similar to what happened during November 2016 and July 2017. If we track the relationship between copper and $EEM, $SPY, $PBR and $USOIL, we can see that every time copper breaks out into a trend, there is a bottom in in emerging markets and oil, and $SPY receives a boost if bullish, or, could form a turning point as ...
