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Copperlong

$5: Copper Aiming for New ATH One of the best looking and yet under-rated commodities chart has to be of COPPER. I know Gold and Silver bugs don't usually get strayed with non-precious metals but technicals are surely juicy if you are able to take a multi year position. My guess is it will be early 2023 when we break through the new ATH. Notice the divergence of price and OBV + a successful 'price action' breakout in the last 3 months. Wait for another 3 months to absolutely confirm the pattern and then off you go. Even the last two volume candles are strong (>=MA) which shows consolidation under place.
COMEX:HG1!Long
by BitcoinWiser
2
Copper is heading towards support, potential rise!Price is approaching our first support at 3.58653, in line with our 38.2% Fibonacci extension, 23.6% Fibonacci retracement and horizontal pullback support, where we remain bullish above this level. We could see a potential bounce at this level and further rise up towards our first resistance at 3.65145, in line with our 78.6% Fibonacci extension and -27.2% Fibonacci retracement. It is worth noting that the price is still holding above the ascending trendline and the Ichimoku cloud, showing bullish pressure in line with our analysis. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:XCUUSDLong
by Tickmill
Copper is facing bullish pressure, potential for further rise!Price has just bounced off our first support in line with our 38.2% Fibonacci extension, 50% Fibonacci retracement and horizontal swing low support, where we remain bullish above this level. We expect a possible further rise up to our first resistance at 3.57843, which is in line with our 61.8% and 78.6% Fibonacci extension levels. It is also worth noting that price is holding above both our ascending trendline and the Ichimoku cloud, which shows bullish pressure in line with our analysis. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:XCUUSDLong
by Tickmill
Copper is heading towards support, potential rise!Price is approaching our first support in line with our 50% Fibonacci extension, 38.2% Fibonacci retracement and horizontal overlap support, where we remain bullish above this level. A small bounce and then a further rise above first support at 3.50954 towards first resistance at 3.57843 could be possible. It is also worth noting that RSI remains above the ascending trend line, which shows bullish pressure in line with our analysis. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:XCUUSDLong
by Tickmill
Copper is facing bullish pressure, potential for further risePrice is facing bullish pressure from our first support in line with our 61.8% Fibonacci extension, 76.4% Fibonacci retracement and horizontal swing low support, where we remain bullish above this level. A further rise above first support at 3.47033 towards first resistance at 3.52870 could be possible. It is also worth noting that RSI has just bounced from the support level at 35.09, which shows bullish pressure in line with our analysis. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:XCUUSDLong
by Tickmill
Copper is approaching support, potential for a further rise!Price is approaching our first support in line with our horizontal overlap support and 38.2% Fibonacci retracement, where we remain bullish above this level. A short term rise above first support at 3.50883 towards first resistance at 3.57843 could be possible. It is also worth noting that price is now above EMA (55), which shows bullish pressure in line with our analysis. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:XCUUSDLong
by Tickmill