Commodities video overview $CL_FIn this video overview, we will take a look at the Oil, Copper, Gold, Silver, and Brent Oil. $GC_F and $SI_F have the most promising consolidation patterns #Oil is breaking higher.
Copper
Copper is approaching support, potential bounce Price is facing bullish pressure from our first support, in line with our horizontal pullback support, 38.2% fibonacci retracement and 61.8% fibonacci extension where we could see a further upside above this level. Ichimoku cloud and 20 EMA are showing signs of bullish pressure as well.
Copper is facing bullish pressure Price is facing bullish pressure from our first support, in line with our horizontal pullback support, 38.2% fibonacci retracement and 78.6% fibonacci extension where we could see a further upside above this level. Ichimoku cloud and 20 EMA are showing signs of bullish pressure as well.
Turmalina Metals Corp.TBX is a great exploration play.
We should see a Gapclose soon.
If we pullback or just move forward we will have to see.
Copper is facing bullish pressure, potential for further upside
Price is facing bullish pressure from our first support, in line with our horizontal pullback support, 23.6% fibonacci retracement where we could see a further upside above this level. Ichimoku cloud and 20 EMA are showing signs of bullish pressure as well.
Copper is testing resistance, potential reversal Price is approaching our first resistance, in line with our horizontal swing high resistance, 127.2% fibonacci extension and 76.4% fibonacci retracement where we could see a reversal below this level to our first support target. Stochastic is testing resistance as well, where we could see a reversal below this level.
COPPER (XCU/USD) – Week 5 – Correction knocking on the door.Copper price moved sideways for the whole trading week, as we forecasted in our past analysis. As we broke out of the previous trendline, we anticipate for this week that the consolidation will continue to the support area highlighted on the chart. Once this move is completed, we will likely see the top brake once more.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Copper is approaching resistance, potential reversal
Price is approaching our first resistance, in line with our horizontal swing high resistance, 78.6% fibonacci extension and 78.6% fibonacci retracement where we could see a reversal below this level to our first support target. Stochastic is testing resistance as well, where we could see a reversal below this level.
COPPER - Updated chartOur updated chart shows that clearly the price is in a descending channel.
Our take profit levels are broken down in 4 layers.
The price of Copper will be depending on mainly Asian and other indices performance, especially the more industrial ones.
Copper is approaching resistance, potential reversal Price is facing bearish pressure from our first resistance, in line with our horizontal swing high resistance, 78.6% fibonacci extension and 78.6% fibonacci retracement where we could see a reversal below this level to our first support target. Stochastic is testing resistance as well, where we could see a reversal below this level.
Copper Long SetupCopper Long Setup
Entry: $3.4989
TP & RR: $3.6094 (3.47)
Stop Loss: $3.4671
REASONS FOR THE TRADE
Opening a long order at a support level. As simple as that. The Stop Loss is set below the previous low and the Take Profit is at the lower trendline from the triangle that we broke down from. The market Flow indicator is printing a divergence on the 4h chart, so I believe the price should start trending up. I will be quick to trial the stop loss if the price indeed goes up. This is one of those trades that can go wrong very quickly and I don't want to give up profits.
Copper is facing bearish pressure, potential reversalPrice is facing bearish pressure from our first resistance, in line with our horizontal pullback resistance and 61.8% fibonacci retracement where we could see a reversal below this level to our first support target. Ichimoku cloud and EMA are showing bearish pressure as well in line with our bearish bias.
Copper is heading to a new ATHFundamentally, COMEX:HG1! has a potential with the new green economy and its new applications. China was the dominant consumer of it but in the next term, not a country or countries but a sector, including EVs, will dominate the market and prices.
This is a long term prediction. I think current supply CAPEX is not enough for the next term. Thus, we can expect further real price increases in the next term.
The chart is based on Wyckoffian method. I think this is a re-accumulation phase. The next step will be the sign of strength.
POISTIONAL MCX CALL DATE - 02/02/2021POISTIONAL MCX CALL DATE - 02/02/2021
BUY MCX COPPER @ 591 - 592
ADD MORE 585
STOP LOSS - 580 CLBS
TARGET - 600 605 610 615 NEW HIGH ++
@tradingandeducationsupport
Copper is facing bearish pressure, potential reversalPrice is facing bearish pressure from our first resistance, in line with our 100% Fibonacci extension and 76.4% fibonacci retracement where we could see a reversal below this level to our first support target. Stochastic is approaching resistance as well, in line with our bearish bias.
Raiden to regain Daily Uptrend?Raiden Resources Limited (ASX:RDN) is an ASX copper-gold exploration company focused on discovering large scale mineral deposits in the world class Tethyan region of Eastern Europe. Raiden operates in low cost and mining friendly jurisdiction’s which remain underexplored, seeking to systematically apply modern exploration techniques to discover Tier 1 projects.
Outlook:
- Daily Support currently Holding after recent trend break, area of interest is at Daily Resistance and Retest of Daily Uptrend. I think the only thing that help price regain trend will be Good Drilling results. Also note the Daily GAP is unfilled just below current price. If price was to regain trend, my target would be previous high from October. If support break then GAP fill is likely.
Watching.
"DISCLAIMER: NO ADVICE. The information presented here is general in nature and is for education purposes only. Nothing should be considered to be advice. You should consult with an appropriate professional for specific advice tailored to your situation."
Gold-Copper Ratio, (very) LONG; This WAS the top of equities ...... most likely.
Let's reason for a second. (Despite all the noise out there.)
The title chart is the Monthly Gold/Copper Ratio, e.g. is very powerful. (It does not tend to turn on a dime!)
This has just completed the month of Jan. 2021.
1) It has finished the month by completing a Bullish Hammer, bouncing off of the (very) round number / level of 500;
2) It did so exactly at the 78% retracement of the March 2020 highs - i.e. Pandemic equity lows;
Then, instead of continuing down (equities continuing to rally) it did turn "on a dime" and finished in a Bullish Hammer - raring to go higher, i.e. equities lower.
3) As of this moment, the above picture, provides one with two distinct possibilities.
a) That massive (Monthly!!) Bearish Deep Crab is going to bear down it's target at the - very - round 1000, e.g. sending the SP500, Dow and Nasdaq to a better than >65% Decline; (Most likely!)
b) This ratio is going to trace back, close to the March, 2020 highs - Pandemic Equity lows - where it's going to reverse and rise, once again. I.e. The test of the March, 2020 equity lows are going to hold.
Either way, the significant take away here is this;
Unless these most recent Equity Index highs are taken out very soon - e.g. with this next month - Equities are headed strait to test the March, 2020 lows, where the obvious question remains: Will those hold?
Have a nice day and stay short equities!
Here is the Weekly chart;
Copper is approaching resistance, potential reversalPrice is facing bearish pressure from our first resistance, in line with our 78.6% Fibonacci extension and 76.4% fibonacci retracement where we could see a reversal below this level to our first support target. Stochastic is showing signs of bearish pressure as well, in line with our bearish pressure.
COPPER: Correction may be comingThe chart shows that the big bull market in copper may be weakening and about to correct.
The 2H ATR (amber line) showing the bull strength, is vacillating in its conviction. Finally, there is a trend-switch for the south.
This is a trend following set up - which means if shorting there can be no targets. Stop losses are usually difficult to define, are large and somewhere above the ATR line.
Price of copper is dependent on the US Dollar strength. The DXY shows trends opposite to copper.
Disclaimers : This is not advice or encouragement to trade securities on live accounts. Chart positions shown are not suggestions. No predictions and no guarantees supplied or implied. Heavy losses can be expected if trading live accounts. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
Copper is approaching resistance, potential reversal Price is facing bearish pressure from our first resistance, in line with our 100% Fibonacci extension and 78.6% fibonacci retracement where we could see a reversal below this level to our first support target. Ichimoku cloud is showing signs of bearish pressure as well, in line with our bearish pressure.
Copper is pulling back to test resistance, potential reversalPrice is facing bearish pressure from our first resistance, in line with our horizontal pullback resistance, 100% Fibonacci extension and 50% fibonacci retracement where we could see a reversal below this level to our first support target. Ichimoku cloud and 20 EMA are showing signs of bearish pressure as well, in line with our bearish pressure.
