Copper is behaving nicely. We were longer time buyers on the Copper and looking for it to resume its bullish trend for upside. BUT a big but. It is struggling at the top which means we may see another drop like last one.
Lets come to the point.
How you can trade on this chart.
1. Watch top for sharp sell and join the sell.
2. Wait for the...
Copper is at a critical price action resistance of 2.84158.
It has strong rejection formations of inside out candles and bearish pin bar at the resistance.
Hence we expect the metal to face selling pressure retract downside.
XCUUSD Copper ( Spot FX Rate ) is trading at 2.6570 as of writing.
We see a bullish bias in the industrial metals sector, triggered by the US/China trade talks.
On the smaller charts, Copper broke the bearish trend line. Metal is printing a cup and handle pattern.
Bullish breakout setup on the Daily chart for Copper.Price has been consolidating and failed to follow through on the last bearish setup, so the likelihood of it going bullish is larger. MTF support (Red cross) was formed on the most recent leg upwards, which is also a good sign, and we’re currently at MTF resistance. If this breaks look to enter long at the...
When you see copper goes you should see major moves in the stock market as well. After hearing Harry Dent speaking about the Dark Window, which occurs every 90 years, I’m starting to look at things in a little different way. Instead of a market crash we could see commodities and stock market rallying to all time high and the dollar weakening, hence gold rising as...
I am expecting price to react bullish off of the 0.382 fib level the way it has in the past. Price should then go on a stop hunt up into the lighter red area to stop out sellers before falling... With a massive head and shoulders forming on the weekly, I am expecting price to potentially fall below 2.63000 but partials should be taken at this level and SL should...
Trade Idea: Bearish Reversal
Copper price has once again bounced back to the final resistance level (the 3rd time). Since mid September, price has been trading in a bearish channel, supported by poorer & poorer data coming out of China. Look for a potential reversal as the market resume pricing in poor economic datas coming from China, trade war dispute & global...