Copper may be bought on above 640 target may come as shown in chart ..Get out of all long position if goes below 598..
Happy Trading...
For next week from 25th July to 29tj July 2022
Idea expressed for analysis and tutorial only..
Copper showing downline trend↘, will be very helpful for long term trade. Will be profitable, if staying for long.
MCX:COPPER1!
P.S.- I am not responsible for any personal loss.
Copper has went into a notable downtrend from the last posting of the harmonic bear entry.
I did not know it at the time of making this forecast (In fact, I looked at copper because a friend of mine has a lot of it for scrap and I was trying to explain to them why it would be a good time to cash it in, which they never) but since making this forecast I've read...
We are constantly keeping a watch on Copper and as per the chart Analysis we might see a drop in Copper in coming months.
We can short on Copper on ever Upside move.
Copper CMP 709, looks like going towards 750 tgt
copper looks like completing a 5 wave down move and should give a good retracement till wave 4 of smaller degree
Copper is in decline.
The 50 MAV has provided dynamic trendline resistance.
Price has rallied from the recent swing low to now be at Fibonacci 61.8 level . A short in line with the present intraday trend is suggested
1. Enter - 748
2. Stop - 753 ( Above 100 MAV and Kumo )
3. Target - 718 ( .618 extension)
RR = 6+
On the H4, with price moving below the ichimoku cloud, we have a bearish bias that price will drop from the pivot at 760.90 in line with the overlap resistance and 61.8% fibonacci projection to the 1st support at 738.5 in line with the horizontal swing low. Alternatively, price may rise from the pivot to the overlap resistance at 768.05 in line with the 38.2%...
On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will rise from the pivot at 783.5 in line with the 61.8% fibonacci projection and pullback support and multiple swing high to the 1st resistance at 813.35 in line with the 100% fibonacci projection and overlap resistance. Alternatively, price may break the support structure at...
On the H4, with price moving above the ichimoku cloud , we have a bullish bias that price will continue to rise from the pivot at 783.50 in line with the overlap support to the resistance at 801.30 in line with the 61.8% fibonacci retracement and 78.6% fibonacci projection . However, we would wait for price to break pivot before going in for the buy....
On the H4, with price moving above the ichimoku cloud, we have a bullish bias that price will continue to rise from the buy entry at 783.45 in line with the overlap support to the take profit at 801.65 in line with the 61.8% fibonacci retracement and 78.6% fibonacci projection. However, we would wait for price to break pivot at our entry before going in for the...
Price has broken the ascending trendline and is moving below the ichimoku cloud , which supports our bearish bias that price will drop our pivot at 765.75 in line with the 38.2% fibonacci retracement to the support at 755.45 in line with the 50% fibonacci retracement . Alternatively, price may bounce off the pivot to the 1st resistance at 773.7 in line with the...
Price has broken the ascending trendline and is moving below the ichimoku cloud, which supports our bearish bias that price will drop our pivot at 765.75 in line with the 38.2% fibonacci retracement to the support at 755.45 in line with the 50% fibonacci retracement. Alternatively, price may bounce off the pivot to the 1st resistance at 773.7 in line with the...
