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Copper

Elliott wave Analysis of Dr. CopperCopper is in downtrend from the high of March-07-2022, as per elliott wave analysis the copper seems to be in (corrective) 4th wave. If my analysis and wave counts holds good, then the 4th wave should end below the low of wave 1 which is "4.0346". The 4th wave should clearly show the ABC corrective pattern. The trade idea is to SHORT COPPER in the 5th wave, there is no way to predict exact point when the 5th wave will start and end. But if the copper price keeps going up respecting 4th wave, we will have a good trade. Possible reversal from 4th to 5th wave can be determined by superimposing Weekly and Monthly Pivot Points on top of the elliott waves, I expect it to happen in early August. I will post an update whether we have a trade or not, until then keep an eye on Dr. Copper.
FX:COPPER
by spranav
Short Term Copper 'SELLS' heading into Q4 of 2022I think it's becoming more and more clear that copper sells could extend into the last quarter of the year. Corrective wave 4 seems complete at 0.382 of the second Minor wave count and price is currently in an impulsive bear wave of a lower degree. We should therefore expect Copper prices to plunge to $2.96/lb(-15.4% decline) with some minor bullish price action to around $3.2/lb before eventually finding support at $2.7/lb, representing a -22.42% decline based on the current market price. As indicated in the chart, this short idea comes into play ONLY WHEN Copper prices drop BELOW $3.35/lb, which is the terminus of the minuette wave 1. Additionally, I strongly recommend you to review my long term forecast in profile. Here is a link to my previous Copper forecast. Disclaimer: The information provided here is only for educational purposes and should NOT be taken as investment advice.
OANDA:XCUUSDShort
by Timgucci
Soybeans ZS - Lagging the Pack, but Ready to GoThis is a call I wanted to make yesterday, but didn't have time. With the time I had, there was a choice between this and a Nasdaq NS call and made the Nasdaq call: Nasdaq NQ - 8 Days & 1,700 Points But in fairness, I did pick up November options during yesterday's session, so at least I can say that much for myself, since this has some vibes of hindsight based on today's action. Regardless, Soybeans gives strong cause to believe bullish action is imminent, based on the monthly candles: What this tells us that our June high formed a double top with the '12 all-time high. But most critically, it formed a lower high double top, which means that MMs are likely to seek this level to crush bear skulls, and it's just a question of when. The post-resistance top was really a long gap fill and we've also had three months of consolidation. As everyone who's traded with real money knows, picking the direction and the price is not the hardest, but instead, the timing is the very hardest, and most critical, thing. And in terms of timing, the weekly gives us good cause to believe we're ready to go. We see that late July featured a gap up, which has been filled in and heavily consolidated over the course of five weeks: And thusly, there is significantly reduced reason to believe that Soybeans are set to seek new lows instead of new highs. And indeed, on the daily, what has manifested is a string of higher lows, culminating in this morning's gundown of the 1,400 level A gundown that looks exceptionally turtle soup on the 1H, albeit retrospectively since it already ripped. But note that the rip occurred at 9:00 just before NYSE opens, significant because there are ETFs like SOYB that get caught gap up. More importantly, maybe consider not trying to short the pop. Instead, going long on a pullback could be quite good. And so, in magnifying the timeframe down to the 4H, I discovered that targeting boxes that appeared correct on the wider time frame were a little too shallow on the lower time frames. Thusly, I have generated a "revised" targeting box. However, like I said, time is the harder consideration. I feel ZS will get there, but who knows when? In the meantime, a rundown of the 1,500 level, which corresponds with those August-July relative equal highs around ~1,485 is very realistic. Everyone knows the global food supply is in trouble because of all the drought . Whether it's corn, wheat, soy, or whatever. And while you can certainly expect a new all time high to be made, it's really a question of when. Months like December, January, and February when everything is both trapped in winter, a new calendar year, and people are struggling to pay incredibly high natural gas/electricity bills across the world resulting from problems governments have created since the Russian Federation's invasion of Ukraine this year, may be the more likely time target for 2,000 point Soybeans.
CBOT:ZS1!
by LordWrymouth
3
Copper HG - Is It Finally Time?I have witnessed much consternation on Twitter over the last months and weeks about how Copper, a critical industrial element, continues to decline in price. All the while, like most other metals, the exchange vaults are being raided of thousands of tons of physical spot, which futures markets need to back short positions. One would think this would result in a price increase, and yet, metals have remained exceedingly bearish. Whether Copper can constitute a commodity in a price action cycle that can be considered bullish, rather than bearish, boils down to whether or not you believe that the $5 all time high set during the 2021-2022 bull run is either the ultimate top or the medium and short term top. Looking at the monthly, the situation is more clear: This pattern stands in sharp contrast to say, Soybeans, which has a very similar pattern of price action, but is less bearish over the last 3 months and also failed to set a new all time high during the early 2022 supercycle test run. Soybeans ZS - Lagging the Pack, but Ready to Go And is somewhat more like Wheat, which did take out the previous long term high, albeit only on a short term sweep. Wheat Futures - ZW - Like Snakes in a Can The contrast is that copper ran the old high three times already. So you really have to consider that the ultimate top may be in. More information on Copper HG can be discerned from the weekly, which shows notable gaps above $4, a healthy V-Bottom following the July dumps, and a close, albeit not-too-close, range bottom to the key Sept' 20 pivot: Breaking it down into the daily, we can see that July month end and August open plinked out a dump high, followed by August being characterized by a slow grind upwards before finally selling off at the end of the month: September, thus far, has opened very bearish, taking out the August pivot (twice, now), yet retaining the overall market structure, and showing an indication that it wants to trade higher. September is not likely to finish in a straight line down. What I like about this call is that while I have mixed feelings that copper will ever see $5 again, despite all the fundamentals saying it really ought to trade for a lot more, the reality is that I believe if it were to turn around and dump to new lows in the low $3s or mid-high $2s, it certainly does this, more likely than not, after raiding the $4 level first, based on how price action has developed. Currently, we're still young in the month and copper has so far traded bearishly, although it's showing a lot of promise in its price action that higher prices, rather than lower prices, are sought for now. The situation in this world is very strange at present. Energy shortages and food shortages are looming, hard, especially if you are in Europe. Recession, aka "Depression" is looming everywhere, and yet the U.S. equities market is still trading pretty high and for a lot of us life is just normal, albeit not as pleasant as before. The dollar index is mooning and many critical currencies from other countries, including ones as strong and crucial as Japan, are being slaughtered, and yet, no matter how siren-sounding Twitter is, price action does not reflect a degree of panic really anywhere. Even WTI Crude Oil, which I called would trade towards the $81 mark at the beginning of August, is trading in such a fashion that despite losing 30% of its value, there is still no fear, no shock and awe. WTI Crude Oil - Running and Gunning And even so far as Natural Gas NG has already lost more than 10%, somehow despite all the fundamentals saying otherwise, nobody is batting an eyelid. Natural Gas / NG - What, Truly, Is a Bull? Right now, everything, everywhere, is just business as usual, and another dip to buy. But for how much longer? A 72 VIX print is looming in the cards, and the lack of fear will truly have such a move catch many off guard. VIX - 9x8 = 72 The hardest thing in trading is not determining the direction or the targets. Instead, the hardest thing is gauging and predicting _when_ the move will happen and how it will unfold, since time is weaponized, and not very many things go up or down in a straight line all that often. Frankly, reason stands that the reality is that we will see Copper trade for prices like $10 in the relatively close future, and if so, then this price action we're sitting at is truly the place where the abyss will start to rage from. But to go long for that day... when does it really unfold? More likely than not, if you want to aim for numbers over $5, you're looking at a date in 2023, and it's very hard to trade options and futures that far out. And never forget, the world's greatest "black swan" looming is the coming collapse of the Chinese Communist Party . When that day really unfolds, most of the world's population will be bamboozled and caught off guard, which is why I call it a "black swan." But in reality, it is a development that is so, so easy to see. If you can't see it, maybe renounce your faith in communism, socialism, Marxist-Leninist stuff, and have better thoughts. Position yourself with the mentality that saw the world defeat Hitler in World War 2. The CCP has killed more than 100 million of its own people during its sanguine 100-year reign, including the 23-year-long organ harvesting persecution against Falun Gong meditation. How much longer can a group of rogues squatting in Shanghai last, soaked in sins like that? Rationality is simply too critical, and the level of one's rationality is connected directly to the level of their morality.
COMEX:HG1!
by LordWrymouth
3
Copper Potential for bullish momentumOn H4, with the price crossing the ichimoku cloud, we have a bullish bias that the price may rise from the sell entry at 3.6069, which is in line with the 61.8% fibonacci retracement and overlap resistance to the take profit at 3.6774, where the previous swing high and 78.6% fibonacci retracement are. Alternatively, the price may drop to the stop loss at 3.5349, where the swing lows are. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:COPPERLong
by VantageMarkets
Copper Futures (HG1!), H4 Potential for Bullish RiseType : Bullish rise Resistance :3.5000 Pivot:3.4735 Support : 3.4170 Preferred Case: On the H4, with the price pullback from the support, breaking the descending trendline, MA10 is above MA30, combined with the fundamental news, we have a short term bullish bias that the price may rise from the pivot at 3.4735, where the current price is to the 1st resistance at 3.5000 where the previous swing high is. Alternative scenario: Alternatively, price could drop to the support at 3.4170, where the swing lows are. Fundamentals: Because of Chinese administration, the decline in copper production in Peru, and a steep fall in the DXY, copper shows a pull back trend from the support.
COMEX:HG1!Long
by Genesiv
XCUUSD - 240 MINS CHARTThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart). Note: its my view only and its for educational purpose only. only who has got knowledge about this strategy, will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves. we do not get into bullish or bearish traps. we anticipate and get into only big bullish or bearish moves (Impulsive moves). Just ride the bullish or bearish impulsive move. Learn & Know the Complete Market Cycle. buy low and sell high concept. buy at cheaper price and sell at expensive price. Keep it simple, keep it Unique. please keep your comments useful & respectful. Thanks for your support....
XShort
by Tradelikemee
Copper Potential For Bearish ContinuationOn h4, with the price breaking the descending trendline and there is a golden cross, we have a bullish bias that the price may rise from the buy entry at 3.4507, where the 23.6% fibonacci retracement is to the take profit at 3.5515, where the50% fibonacci retracement and previous swing lows are. Alternatively, the price may drop to the stop loss at 3.3749, where the swing low is. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:COPPERLong
by VantageMarkets
COPPER Potential for Bearish DropOn H4, with the price moving below the ichimoku cloud, we have a bearish bias that the price may drop form the sell entry at 3.3747, where the swing low and 61.8% fibonacci retracement are to the take profit at 3.2362, where the swing lows are. Alternatively, the price may rise to the stop loss at 3.4543, which is in line with the 23.6% fibonacci retracement and overlap resistance. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:COPPERShort
by VantageMarkets
XCUUSD - 240 MINS CHARTThe Structure looks good to us, waiting for this instrument to correct and then give us these opportunities as shown on this instrument (Price Chart). Note: its my view only and its for educational purpose only. only who has got knowledge in this strategy will understand what to be done on this setup. its purely based on my technical analysis only (strategies). we don't focus on the short term moves, we look for only for Bullish or Bearish Impulsive moves on the setups after a good price action is formed as per the strategy. we never get into corrective moves. because it will test our patience and also it will be a bullish or a bearish trap. and try trade the big moves. we do not get into bullish or bearish traps. we anticipate and get into only big bullish or bearish moves (Impulsive moves). Just ride the bullish or bearish impulsive move. Learn & Know the Complete Market Cycle. buy low and sell high concept. buy at cheaper price and sell at expensive price. Keep it simple, keep it Unique. please keep your comments useful & respectful. Thanks for your support....
XShort
by Tradelikemee