dr.copper bearish TAif this was to be near the top, maybe this would be one of the cleaner signals to show that perspective.
CA63M trade ideas
Copper Prices Refresh All-Time HighsTechnicals Suggesting a Correction to Support for Copper
The metals complex has been on fire; copper futures (COMEX) recently touched gloves with a fresh record high of $5.1990 per pound. This followed last week printing its largest one-week gain (+8.3%) since early February 2022.
You may also note that the metal shook hands with a 1.272% Fibonacci projection ratio at $5.1060 (many harmonic traders will view this as an ‘alternate’ AB=CD ratio) and, as of current prices, price action is forming what many technical analysts will recognise as a bearish shooting star candlestick formation.
Should a correction occur from current prices, as suggested by the chart’s Relative Strength Index (RSI) closing in on levels not seen since May 2021 (indicator resistance at 83.82), support warrants attention at $4.8890.
What is Driving the Metals Markets?
This is a tricky one at the moment.
The surge in copper could be based on the expectation of Chinese demand. According to a post from Reuters, ‘China's finance ministry plans to start raising 1 trillion yuan ($138 billion) in long-awaited, long-term special treasury bonds this week to raise funds it will use to stimulate key sectors of its flagging economy’. Fuelling further buying, of course, will be speculation and the Fear of Missing Out (FOMO).
It is also interesting to see the price of gold refresh all-time highs of $2,450 simultaneously, as copper and gold tend to offer different economic signals. Some desks claim central bank buying is behind the rally in gold.
COPPER SELL OFF BEFORE NEXT MOVE HIGHER (bullish Bat setup)Even if we continue higher..
Pattern still valid until Point A break.
Entry for the abc completion
HG Copper Futures- Short to Long SetupHG is on the 30 minute chart with a set of EMAs ( 7- blue 20-red and 100-black) ascended
6 % in 7 days from the morning of 4/23 to the evening of 4/29. This is traded with a leverage
of 25. A short trade taken on the reversal is now impending closure. The short falls faster than
the long climbs and will yield about another 6% in 24 hours or so. The trade is setup to close
when price crosses the EMA7 and stays above it for three consecutive candles ( 90 minutes).
I long trade will then be contemplated to continue to take full advantage of the volatility.
The RSI indicator should show a rise toward the 50 level to validate a long trade and some
green buying volume candles should print. Rinse and repeat.
Another of my masterpieces on $COPPER this time long time comingI've been meaning to revisit NYSE:HG for a while now and finally have done so; there have been some very interesting visits to black swan territory on this chart and the short term targets after breaking out from another of those green channels could really be quite high (see 20y ago)
Some very notable calls in recent years:
SPREADEX:NIKKEI and TVC:DJI both to 40k (over 1y in advance)
CRYPTOCAP:BTC pico bottom at 15k and recent local top at 70k
FX:EURUSD pico bottom & TVC:DXY pico top at 115
TVC:USOIL pico bottom at 68
NASDAQ:SMCI mega breakout at 100
NASDAQ:NVDA mega support at 120
NASDAQ:TSLA pico bottom at 105
NASDAQ:NFLX pico bottom at 165
HG Futures, Copper's Potential Rise: Monthly, Weekly, Daily.Monthly is winding up for a big drop or huge jump.
Monthly:
Weekly:
Daily shows price winding up potentially the rest of the year. So I will look towards year end for the fireworks, that will decide if our pent up momentum will release upwards or downwards.
My gut says inflation will send it upward in the near future.
Potential Copper Futures Retracement: 830 in SightCopper futures surged to 864, but signs of exhaustion hint at a possible pullback.
Key points:
Trend: Bullish momentum is strong but showing signs of fatigue.
Support/Resistance: 830 is solid support; 864, a stubborn resistance.
Indicators: RSI suggests overbought conditions; watch moving averages.
Volume: Declining volume hints at weakening bullish sentiment.
Chart Patterns: Look for signals like double tops for confirmation.
Conclusion: Stay cautious; 830 pivotal. Manage risk wisely.
(Note: This is not financial advice. Always do thorough research or consult a financial advisor before trading.)
May 2: Copper ends rally from FebLike many commodities, Copper had an extended 5th leg with a blow-off top with very strong momentum before dumping to correct the rally from Feb lows. Coincides with TVC:DXY which needs more upside.
HG1! Copper breaks major trend line, GDP slowing is realCopper break major TL. Going lower folks. Productivity and growth slowing=RECESSSION. Future orders DOWN. Give me a break Powell, you know what a soft landing is? Its misery slowing the economy too slowly. Its recession for longer and deeper than you intend, because you lacked the Kahunas to do it painfully. Rather than just rip the bandage off, you are slowly tearing it day by day, bit by bit, so we have to endure the pain and misery for "higher/longer". We got from 9 to 3.5 pretty quickly, but from here to 2% will be agony, take years, ruin banks, be the excuse to bring in the reset, ruin our freedoms and lives, all because your pride didn't let you just raise rates again, and again until, we got to 2% finally, QUICKLY.
Watch for guidance for all major corporations (and small IWM) to be DOWN. Commercial housing (multi family) down, less new construction , less copper needed. There is still a housing shortage, but rents are coming down because finally the new builds are coming online. So they have demolished most of the old trailer parks, and the golf courses, the towns their in have rezoned for higher density, the towns will reap more taxes, but they wont use any of that cash to improve anything so all these EXTRA people can fit, so we all suffer.
Save commercial real estate (and residential) and the regional banks, and the economy, and lower rates now morons! Or raise them get to 2% and rip the bandage off, so we can reset. But this soft landing is agony, and only serves to somehow protect your pride, while you error, and ruin the economy. Copper knows. This isn't good. Soft landing or no landings isn't good, LAND ALREADY, GET IT OVER WITH AND GET ON WITH IT!
How to trade the NEW CME Micro "Copper"In this video we will demonstrate how to trade the NEW CME Micro "Copper" symbol with Tradingview with AMP Futures.
copper is my focus, the movie is playing outCopper, and doctor copper, usually tells the story. Its the pulse of the economy. This Trend line event is everything. Bounce or break... I think you can say the same for the fake economic numbers the government is putting out there. You can only tell a lie so many times, before it does NOT become the truth, it becomes an embarrassment to the publishers. Each publishing of govt published "facts" gets adjusted big time the month after. Why can't they just tell the truth the first time. FED tells a story today too. Do they prep for the next election, use words to try to get a democrat elected, do they kick the can down the road, or do they do whats good for the people and focus on whether do they lower rates, or raise? Lowering rates saves the Yen, the regional banks, the commercial (and by extension the residential) housing market, and the economy, short term, until November 4th. Then it sparks hyper inflation, and the match is called "greed", "malfeasance", "election interference", and many other names. Brics will love it, sending gold and silver and commodities to the moon. Voter's IRA's will love it, for now. The real unemployment numbers come out next time, because that will be their justifier to lower rates, saying these numbers lag, saying they HAD to do it. This is just what some have been saying about, hey, don;t you see, when the recession actually gets named, and the unemployment numbers are told for real, and they have to actually lower rates when inflation is not under control... The wild fire called hyperinflation will crush the economy, bring it to its knees, and justify the "reset", the new financial system. The movie is playing out before our eyes.
COPPER Commodity Trade LONGCopper prices rise when the economy is thought to be growing and needing more electrical
infrastructure while they fall when bearish indicators might project a recession. With that in
in on the 15-minute chart I missed a trade in the junior copper miner ETF this week. I have
now placed COPJ on my watch list and will not miss it again when it falls to support and
retraces. I am looking at the aluminum and finished steel subsectors as well. FCX is
under a consideration but as a large cap it does not have the volatility of the junior miners.
🔥Copper Price Surges as It Breaks the Trendline🔥Copper prices have risen in recent days, supported by a number of positive factors. A weakening US dollar against other major currencies has made copper more attractive to foreign investors.
In addition, the market received positive news from Chile, the world's largest copper producer. Chilean President Gabriel Boric predicted that output from state-owned miner Codelco would grow slowly this year. However, analysts remain optimistic about copper prices due to expected demand growth in sectors such as electric vehicles, electric infrastructure, AI and automation.
Trafigura, a large commodity trading firm, forecasts that copper demand will grow steadily in the coming years. This forecast is supported by the increasing investment in renewable energy and electric vehicle projects, which use more copper than traditional vehicles.
Today, according to our assessment, the price of the currency continues to rise as it approaches the support area.
Trading recommendation
SELL LMT CPEN24:
Entry: 4.5060
STP: 4.4630
TP: 4.6390
COPPER New Bull Cycle confirmed. 6.7600 possible.Copper (HG1!) has emphatically broken above the last Resistance of the 2-year Bear Cycle as it smashed through the top of the long-term Triangle pattern. The same pattern kept Copper on a Bear Cycle up until June 2020 when it started the remarkable rally to the 5.000 High (1.786 Fibonacci extension).
As you can see on both fractals, the formation of a Death Cross on the 1W time-frame signaled the bottom (Feb-March 2020 is the COVID crash exception, if that hadn't happened, the Triangle could have even broken upwards earlier).
Our minimum Target on the emerging (green) Channel Up is 6.7600 (Fibonacci 1.618 extension).
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Copper to $4 over the next 90 daysHistorically over the last 30 years copper begins to fall right now into the end of May / June. I'm now shorting copper with a price target of $4. COMEX:HG1!
HG | Copper Futures | Short - SELLWaiting for rejection off the liquidity zone.
Selling only after the break below the HMA and the retest of the liquidity zone.
The break below the HMA has already happened. In the area of the retest of the liquidity zone at the moment.
Looking to sell from that zone.
Trading this off a higher timeframe as this is a 3 week swing at the least
**This is just my trading thought process and does not constitute as financial advice.
**Please trade with proper risk management*
Copper WeeklyDr. Copper joining the move...
But don't trust me, just look at the chart!
#Copper #Gold #Silver #Crudeoil
Copper Update Apr 4 2024Copper is up big!
We are following Mr. Copper on the TTR for a long time. This advance is not driven by a good Global economy. Something is up behind the scenes, which is very scary as this is not a reflection of the Global economy doing so well!
All war metals are up…
75: Exploring the Electric Vehicle and Copper ConnectionIn the ever-evolving landscape of the financial markets, the intersection between Electric Vehicles (EVs) and copper presents a compelling narrative. As interest in EVs surges, propelled by advancements in technology and a global shift towards sustainability, the demand for key components such as copper intensifies.
Recent market dynamics have seen a lack of enthusiasm for EV stocks, prompting car manufacturers to implement price reductions to stimulate sales. However, this move signifies a strategic pivot rather than a sign of weakness, as companies aim to bolster revenues for further investment in the burgeoning EV sector.
Crucially, the production of EV batteries heavily relies on copper, emphasizing its integral role in the industry. Consequently, a resurgence in copper demand is anticipated, driven by the expanding EV market and the broader digitalization trend.
Technical analysis reveals copper's struggle to breach the 4.12 level, hinting at potential downside movements. Key support zones are identified around 3.37 and 2.83, where increased buying interest in copper is expected. These levels coincide with opportune entry points for investors eyeing the EV sector, as copper targets new highs, with an ambitious target of 6.49.
We can see that the convergence of EVs and copper presents a compelling trading opportunity. As the EV market continues to evolve, savvy investors can capitalize on the interplay between these sectors for potential gains.
Copper (HG) Short Term Pullback Should Find BuyersShort Term Elliott Wave view in Copper (HG) shows that the rally from 2.9.2024 low is in progress as a 5 waves impulse. Up from 2.9.2024 low, wave ((i)) ended at 3.9085 and dips in wave ((ii)) ended at 3.8015. The metal extended higher in wave ((iii)) towards 4.164. Subdivision of wave ((iii)) unfolded in another impulsive structure in lesser degree as the 1 hour chart below shows. Up from wave ((ii)), wave (i) ended at 3.952 and dips in wave (ii) ended at 3.902. The metal extended higher in wave (iii) towards 4.081 and pullback in wave (iv) ended at 4.0175. Final leg wave (v) ended at 4.164 which completed wave ((iii)).
Wave ((iv)) pullback is in progress as a double three Elliott Wave structure. Down from wave ((iii)), wave (w) ended at 4.08 and wave (x) ended at 4.118. Wave (y) lower is in progress and target lower is 100% – 161.8% Fibonacci extension of wave (w). The area comes at 3.98 – 4.03 which is shown with a blue box area. From this area, the metal should extend higher or at least bounce in 3 waves. Near term, as far as the pullback stays above 3.978 (1.618 extension), expect the metal to turn higher from the blue box area.
Generational investment opportunityCopper is breaking out of a multi-year long cup-and-handle consolidation in daily time frame, as Gold first broke out. In the monthly time frame, Copper can be seen accumulating, steadily holding above all the moving averages. Once it breaks out of previous pivot, it would accelerate. Huge momentum in the next couple of years. Long-term investment opportunity.
Copper Supply Zone Copper JUST missed our supply zone entry located above the opening range.
Very Clear DBD (drop base drop) formation on the 15 min chart.
We called this out today in the live room. Hopefully we get another shot at this. You never know what is going to work. You can only trade what you see taking place on the chart at that moment.
