The recent rally in Copper prices sure feels like a wave 3. Volume is great. In wave 3 according to RN Elliot is usually the most powerful wave in a trend. Prices rise quickly and corrections are very short lived and shallow. Anyone looking to get in on a pullback will likely miss the boat. As wave three starts, the news is probably still bearish, and most market...
Seasonality is showing weakness at the end of june, so its abouve time to get into short postions on copper and maybe also gold...
Snagged a quick $25.00 on a Copper trade as price action quickly moved down through my 30HMA. I set a TP of 20 points which is pretty safe. I left some profit on the table but am happy with a profit.
Copper - It has completed impulse cycle upside and now correcting down in double zigzag WXY where Y is in progress. The invalidation level for the set ups is 4.7085 and probable target zone will be below 4.30 level.
Supply entered the market in February evidenced by the close at approx 3/4 and confirmed by March's bar - a down bar of similar volume closing slightly above the halfway point of February's bar. March's bar was approximately only half the spread of February's bar indicating that there wasn't good ease of movement to the downside. The close in the bottom third of...
🏛COPPER is trading in an uptrend in a rising channel And as you can see on the chart number 1 The metal broke the pervious all time high with ease on the daily But then retraced back below the level While staying inside the rising channel All of the above paints a mixed picture But until the channel gets broken,I will remain bullish But further growth...
Update on my Dr Copper to Dr Silver ratio. Starting to look more true (I expected a reversal to the downside). Again, it doesn't mean #copper performs poorly, it just means #silver is going to out-perform. I still expect copper miners to obviously keep up. See second chart.
I think non-stock / non-treasury futures instruments are still trading on Memorial Day, but I will find out for sure tomorrow. If they are copper looks to be in an excellent position to consider long opportunities on the lower timeframes.
Thank you for your likes and comments! Really appreciated! This is an idea about Copper price, not a financial advice. ___________________________________________________________________________________________________ The HG1! Copper Futures have been continuously rising... almost a year. We realized that summer is coming and that this market have been beating...
Stop buy 4.68 stop loss 4.25 A trailing stop should be used.
Copper has took support with huge Volume. Continueing in Rising channel ...RSI Figures are so Good.
The narrative around copper is very compelling. 1) $5T of Government spending in the next 10 years for renewable energy development 2) Electric cars 3) Miners underinvestment in recent years What this says to me is the simple fundamentals from miners...limited supply would be enough to extend this commodity bull cycle. Beyond that...we have car manufacturers...
Copper prices breaks resistance level after over a decade. Reason for this is Copper has responded to China’s industrial growth and global manufactured goods demand. Idea originated from CME and Goldman Sachs Exchange podcast - Copper is the new oil.