I see a potential trade on Copper. On the daily it has formed a nice double bottom (unconfirmed) with a strong bullish engulfing candle at support, all good signs to the upside. I am seeing MACD divergence on the daily, in addition RSI divergence. I have dropped down to the 4 Hour chart and have highlighted the 50% Fib area I am interested in for an entry. I'll...
copper making seasonal bottom, professionals open long & short positions, while bank profiting taking by closing both sides. price may go further dip to catch stop losses.
I've been watching copper for several weeks, wow what a drop. I am seeing some encouraging patterns for a long, I would be taking a 2:1 and out, not holding this one. I see a hammer at the end of a trend resting on previous support, MACD divergence, RSI oversold (even on the daily), I will set a limit order at support, I want the best entry here. That's it,...
READ THE MARKET COMMENTARY IN THE CHART CAREFULLY...AND TRY TO LEARN THE ELLIOT WAVES...OTHERWISE ITS TOUGH TO UNDERSTAND MY ANALYSIS
All information given inside the chart and i shared this for educational purpose only. Maximum i wont give the followup or update in the old chart posted as educational trade idea, sometimes i will...so please make sure if i...
READ THE MARKET COMMENTARY IN THE CHART CAREFULLY...AND TRY TO LEARN THE ELLIOT WAVES...OTHERWISE ITS TOUGH TO UNDERSTAND MY ANALYSIS
All information given inside the chart and i shared this for educational purpose only. Maximum i wont give the followup or update in the old chart posted as educational trade idea, sometimes i will...so please make sure if i posted...
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.
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