Copper - a little bit risky short on dailySeems like it's still short situation on daily TF. SL above 2.6, target -- 2.3 or lower.
Copper Futures HG1!
AUDCAD Nov'16 - LongAfter the break above the 2014 high around 1.035 the chart lines up more with expectations.
AUD Bullish copper (see "All that glitters") and AUDUSD
CAD With NAFTA potentially changing up with Trump in power
Won't look to enter unless we get sub 0.975... will be a while but i'm patient
Copper's Parabolic Move UnstableThere is no doubt copper's move is substantial as chart chasers crowd on a few group think narratives:
Inflation is around the corner. Is it? Headline inflation in the United States in 1.47 percent. To put that in perspective, it's down four percent from July 2008 highs of 5.4 percent. To add further perspective to that, inflation is cyclical. It has risen, from previously declining, into every U.S. recession (except two) is seven decades. Each of those bouts ended up in a deflationary recession.
Copper prices, and the narrative of higher inflation, is coinciding with a much stronger DXY. Due to global central planning to weaken their respective currencies, the dollar has remained rather strong. Either the dollar plummets or copper does. Unless the greenback breaks through 92.50, the 2011 bull market continues higher, pending more Q.E. from the Federal Reserve.
China is growing. Not really. Internal data suggests China is growing less than half of its official growth figure. Fiscal stimulus is a possibility, but the Communist government has a long-standing affective of pumping liquidity and generating fiscal deficits to inflate on asset bubble to another.
In a note from July 2013, I said "The excessive liquidity in China has led to a huge redundancy in investments and speculation, and this has contributed to excess capacity in both manufacturing and infrastructure. This inefficiency of channeling the free-flowing liquidity undermines China's development." This will continue. The People’s Bank of China has increased net liquidity to the financial sector by a staggering +2,022% year-to-date.
The commodity burst has finally reached a bottom. Really? Too early to tell, especially if growth continues to slow.
Price discrepancy is way out of wack. With a z-score on the daily and weekly of over 2.5, price will have to come down. RSI is at 87, while the stochastic indicator is highly overbought. Copper does have momentum on its side, but near-term could see a pullback to 2.30 to consolidate.
Gold/Copper Oct'16 - Short term heading south?Bull recoil complete. Time for a tank sub 400?
Long term model suggests a run up towards 700
Copper Oct'16 - potential short set upCurrently shooting back up into newly created bearish trend line. Looking to short around 2.20, SL 2.22, target 2.10
Long Copper above 2.1125Long HG at 2.1125 for T1 2.146 & T2 2.1970 with SL of 2.1000
Took support at previous trend line
Triangle (and Wedge?) on CopperCopper has been awaiting some Fundamental Change since 2011
From January 2016 markets are awaiting final decision - that is why we see triangles on TYX, EURUSD, Nikkei and some other.
Decision is NOT there yet!!!
Markets will follow either natural cyclic pattern or create NEW VIBRATION after "Information Shock" (ref. The Law of Vibration: The Revelation of William D. Gann, Book by Tony Plummer)
copper LongCopper may be setting up for a long. This level is in the middle of a range so, it is not the strongest however watch the price action to see if it holds.
GC1!/HG1!The Gold vs Copper ratio is near historical extremes. Presently its in the 96th %ile of observations since 2008 and testing trend support.
All that glitters is ... Copper?!Personally I think we are set to complete wave 2 of a 5 wave impulse north. My projected trajectory highlighted by the blue waves.
Majorly bulled up unless we break Jan'16 low 1.93. Currently on the hunt for long entry around these levels.
COPPER 15MIN: priginal 15min demand buying opportunityH1: we are indiside of an H1 demand zone
15MIN: there is 15min original demand zone for buying opportunities inside of an H1 demand zone
TP1: Just before H1 wick
TP2: Will be Trailing till just before the previous swing resistance
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USOIL. COPPER. AUDUSD. BottomedCrude oil is a top asset.
Copper and Aussie have a strong correlation.
USOIL looks bottomed.
So then current weakness in Copper and AUDUSD is just a correction before a new impulse up.
Copper ShortMedium term still see prices heading higher but sat under trend line resistance this is a sensible shorting opportunity to test shoulders of inverse H&S.
Short at 2.270 SL 2.307 TP 2.037
Freeport-McMoran possible trajectoryLong term I'm bullish but if we can get a lift in USD and see metal take a dip we could be looking at a near term high. In an ideal world we bounce up to fill gap at 13 and then roll over and drop back to $5 levels. Tough to believe it could take such a battering but those gaps are there to be filled. One to watch this week.
Gold ShortLong term bullish gold... however useful short opportunity as we approach 1306 high. Will be looking to load up long if we get a decent dip.
Copper lead the sell off see "Copper Short"
Short at 1287, SL 1310, TP1 1183
