📌 Copper for the Yearly Close First with an immediate review of the flows. We were tracking for the capitulation low which was our moment to advance... It was a great choice of moment to load the longs. Extending the belief in commodity shortages which have been entering into play all year long. The highs are worth striving for, all factors remain...
Crude is in dwonward slopping channel between 690 to 730. A breakout above 730 closing basis it can sharply move up to 730
Catalyst would be a rallying dollar in my opinion. Copper poses a similar structure to many cryptocurrencies over the past few months. Check comments for weekly/monthly view, where there is also huge reversal pattern.
Breakdown from descending triangle, followed by reversal and two inside bars.
Copper was in a sideways pattern since about 3am. I put in a Sell order for 4.3200 in case price action moved, which it did around 7:15am. Price action moved down through my 30 HMA and I put my usual Take Profit at 100 points, 4.3100 which it did in less than 1 hour. Again, price action continued moving down but I always like to take my profit and run :-)
Perfect setup for Copper this morning as soon as I woke up. In checking Copper chart you can see the sideways pattern with PSAR supporting for hours. I put a buy order in at 4.2900 and just in time, because just after 6am in less than 15 minutes, price action rose straight up through my 30 HMA and hit my TP at 2.3000 for a quick 100 point profit. Great start to...
I think copper will continue to rise. Copper is a useful metal for lots of electronic devices. Point of control might act as a magnet to draw price higher. In march through april copper was at a decision point, and markets decided it was in high demand. I would be surprised if price went back lower through that heavily traded range. If I was ordering copper for...
Copper was in a sideways channel when I woke up and checked it out. Through the 7am hour it stayed sideways but started looking like it might break up, as my 30 HMA was starting to turn from red to green. I put a buy order in at 4.2700 with a Take Profit at 4.2800 for a quick 100 points. Then it broke up and PSAR changed it up it shot and hit my TP within 30...
Before you trade stocks, bitcoin, FX, bonds or anything you have to try and understand how our monetary system works not to miss the big picture. This video helps you by providing a 10.000 foot view of the global macro landscape. Don't miss the forest for the trees. Tune in and enjoy!
20-06-2021 In the past week, some of the inflationary pressure in the market dissipated with a major sell-off across the commodities complex. The Fed’s policy talk helped spur a surge in the dollar, which was part of the reason for the selling. But the first catalyst was a move by China to cool the hot commodities markets. Reuters reported that a Chinese...
Similar to Silver, indicators at bottom. bought 5x leverage, long. 100 MA touched and went back up.
It looks like we got a small window to LONG Copper. Price should break out of this falling wedge pattern and retrace to 61% FIB level. lets seee. Im going Long on this, since Copper is fundamentally strong.
Hello everyone. Copper has dropped to the key level with a big red candle yesterday! Now, the small candle indicate temporary balance between buyers and sellers. What' next? If you look at the daily chart, this is a nice level to buy with flip zone structure. Down below, 4.1340 is another fantastic buying level confluence with long-term MA. Fundamentally,...
Well, do we? Healthy correction. Is it time to stabilize here or are we trending towards a certain direction?
Taking a look at something other than Crude Oil for a change. It appears that Copper is out of a 10 year bear cycle and a bull cycle started in 2016. A look at the beginning; you can see wave 3 hit the 4.618 extension of wave 1 perfectly and then corrected perfectly to the 0.236 level for wave 4 > If you add in the subwaves of wave 5 there is also a nice...