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Hg

Copper huge long opportunity!If weekly candle closes at 2.67+, the weekly downtrend ( from 2013 !!) will be broken, and with the 4H stoch-rsi turning up, its very possible. The weekly Stoch RSI is also turning back up, so momentum is yet to come. Daily indicators are neutral. Right now, the big resistance area is obviously 2.74. IF we pass this level the algo's will probably pop it to $2.8+ very quick. Copper has been consolidating between $2.5-2.7 for the last 2 months and looks primed for a breakout to $3. Combined with Trump's pledge for more infrastructure and his wall, demand will only go up. Short term, union workers at BHP Escondida, the world's largest copper mine in Chile, are also likely to strike next week over their low pay, which would be a catalyst for the breakout (thru supply disruption). Here is an article about it: www.mining.com Am currently long 5 contracts but might reduce because of possibly scary weekend gap. Good luck :)
COMEX:HG1!Long
by CaffeinatedCryptoo
1
High Grade Copper (HG) prices seen higher in the coming monthsThere has been little change, with High Grade Copper prices balanced around USD2.7000, confluent with the 233-month weighted MA and the (50%) Fibonacci retracement of the 2014-2016 fall. However, the underlying bullish tone is intact, as momentum studies and the positive Tension Indicator, (not shown), continue to strengthen, with clearance of here and the USD2.7220 year high of November 2016 looked for. This will confirm continuation of the January 2016 rally and open up congestion around USD2.8000. Beyond here is the USD2.8555, (61.8%) Fibonacci retracement. Support is raised to the USD2.4800 low of January, and extends to the USD2.4480 low of December. This area should underpin any immediate tests as investors maintain a buy-into-weakness strategy. An unexpected break, however, will delay higher levels, and open up the USD2.3145 high of March, where fresh consolidation should then develop.
COMEX:HG1!
by Michael_Macdonald-XATSUK
2
Copper huge upside possible on Daily Copper has been consolidating for some time now, but has not been affected by DXY's huge upsurge from FOMC. Forms a really nice Bull Flag :) I have overlaid DXY seen in shadow candles at the back. Highest DXY in a long time and also has a hammer on daily. For the most part, Red DXY = Green Copper! The support has been holding pretty nicely so far and should it break 2.67, could easily breakout to 2.74 and above to 2.89. The MACD is about to turn and RSI also. Since we are at bottom of the wedge right now, it's good time to go in with stop below the wedge. Good luck
COMEX:HG1!Long
by CaffeinatedCryptoo
AUDUSD Rallies But Remains Technical ShortOn May 9, MacroView issued a short idea on AUDUSD and highlighted the strong correlations with copper and gold, which we would see the trifecta fall 2.93 percent, 4.90 percent and 6.68 percent respectively. We've seen all three etch out bottoms in early June, yet copper is retesting those lows on unexpected increases in inventories. The AUDUSD went big following the Reserve Bank of Australia holding their key benchmark to 1.75 percent. Unfortunately, this will be short-lived. The central bank's policy will strongly be tethered to the economic performance of China. Technically, we see price resistance at .7520 with a breakout potential to .7645 since the move does have relative strength in momentum. However, the weekly technicals still show a picture of lackluster upside potential. Intermediately, the z-score is at a very high 2.6 (+/- 2 are a great contrarian indicator). Trade posted on chart. Updates will be provided. For more information on MacroView's products, or general questions and comments, feel free to message us. Also, readers are encouraged to post their thoughts and charts!
by MacroView_Research
2