Copper ready to go down in 2022As we can see copper is in the oversold zone. It can be expected correction 30% or more in 2022.
Hg1
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Copper - Just the BeginningCopper futures broke out of their wedge this week, with per tonne prices breaking the $10,000 milestone. Names such as Freeport-McMoran (FCX) are benefitting from this, while TRQ is on discount due to. setback in their mining process. Despite Fed tapering, copper is strong, surprisingly. I believe that now is the time to get in "The New Oil", as stated by Goldman Sachs, who gives the commodity a 50% upside before 2025. If copper moving 10% has resulted in Freeport going from $30 to $39, think of what will happen if Goldman and the rest of the Street is right...
Thesis:
Goldman Sachs recently published a note declaring copper "the new oil," and forecasting it could reach $15,000 (50% inc.) by 2025 as the world transitions to clean energy.
As the movement to sustainability/clean energy progresses, the exponential increase in demand for copper will outrun supply due to slow mine creation, centralized property rights.
Although it may take a few years and experience some drawdown, depleted inventories and a demand spike will likely cause the price to rise significantly over the next decade, with Bank of America suggesting a possible 100% increase to $20,000 per metric ton by 2025.
Overall sentiment on the Street is extremely bullish in the mid-to-long-term.
Copper Prices Take Aim for May 2021 High Post Triangle BreakoutCopper futures are aiming for the May high at 812.60 after prices confirmed a breakout above a Descending Triangle chart formation.
The 200-day Simple Moving Average helped maintain the dominant uptrend as the red metal continues to consolidate since earlier this year.
A drop back under the July high at 768.50 could undermine upside progress, reorienting copper back towards the SMA.
Clearing the May high exposes the 78.6% Fibonacci extension at 851.8636 towards the 100% level at 900.60.
COMEX:HG1!
𝘾𝙤𝙥𝙥𝙚𝙧 𝙁𝙪𝙩𝙪𝙧𝙚𝙨 (𝙃𝙂1!) — 𝙀𝙒𝘼HG1!: 🕐 6h
A big review of this asset is planned for the first half of next year, but decided to make a small update to the count, as the current sideways formation looks very much like a bullish contracting triangle that is about to be completed. On completion of the final wave E of (B) , there will be a good trading setup for a long position.
The wave marking in the double circle parenthesis corresponds to the green marking in the circle on the chart.
Cuivre-Chili SpreadWhen will chile market the catch up? After the elections?
Political discount is probably too high
COPPER (XCU/USD) – Week 41 – Will the resistance hold?In our last week’s analysis, we correctly anticipated the pair to consolidate and head towards the first resistance area.
In the coming days, we foresee the pair gaining more bullish momentum and make an attempt and break the resistance.
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 BULLISH PENNAT|LONG🚀
✅COPPER has retested an important price level
And is now consolidating below it
In a bullish pennant pattern
I am bullish on the metal
As the transition to the "Green" economy
With EV's and Wind Turbines will require massive
Amounts of this commodity, so I am waiting for a breakout
And then will be expecting a bullish wave
With the first target being the recent high
But I am sure the price will go much higher still
LONG🚀
✅Like and subscribe to never miss a new idea!✅
When markets give you clues...will you see the clue?9.26.21 When markets give you clues...will you see the clue? Dogecoin; Copper Part 1 Part 2 will show a chart of someone who must be following me; there are some things I believe he might be overlooking.
COPPER (XCU/USD) – Week 39 – Waiting for a trendline breakout.In our last week’s analysis, we anticipated the pair to finish the correction and make an attempt to break the resistance level. Instead, the price pulled back deeper than expected and reverted.
In the coming days, we foresee the pair consolidating above the orange trendline and head towards the resistance area.
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 (XCU/USD) – Week 38 – Targeting the resistance.In our last week’s analysis, we anticipated the pair to make small higher-highs and reach the resistance area. Instead, the price pulled back deeper.
In the coming days, we foresee the pair to finish this correction and make an attempt to break the resistance level.
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.
COPX - Evergrande Fall-OutBearish sentiment building for copper and other metals/commodities from Evergrande debacle in China and copper prices were down sharply this past week.
COPX weekly chart closed outside the longer-term (march 2020) regression channel for the 2nd time in the last few weeks also printing a bearish engulfing candle indicating potential for more near-term down.
Initial downside target bottom of the current regression channel at the 1.618 fib.
COPX is currently setting atop the mid-line of the nearer-term regression channel and has volume support in this area and may briefly bounce.
Not financial advice.
Copper prices eye key support to resume downtrendCopper prices are recoiling from confluent resistance at 4.4620. This is marked by the underside of two recently-broken uptrend supports, the upper bound of a seven-month price congestion zone, and a downward-sloping trendline emanating from the May 10 high. A daily close under swing-low support at 4.2060 may act to confirm downtrend resumption, initially setting the stage for a test below the 4.00 figure.
COPPER best time to buy now. 2 year rally ahead.This is COPPER on the 1W time-frame. I've made this idea to show to long-term investors why the metal is currently on the most optimal buy levels ahead of a two-year rally.
As you see, the price has been rising since the August pull-back. Not only is it posting a recovery but the August low happened almost on the 1W MA50 (blue trend-line), which has been the markets major Support since the June 2020 bullish break-out.
The pattern bears strong resemblance with the 2004 fractal. As you see both Cycles made a Double Bottom, which initiated the rally, a 1W Golden Cross was formed along the way and when the price hit the Resistance of the previous Cycle High, it made the first substantial correction/ pull-back. In both cases, the 1W MA50 held and then a 1 year Channel Up followed supported by the 1W MA50, which eventually paved the way for the final parabolic rally. The RSI sequences are also quite similar.
It is obvious the Copper is replicating the previous Bull Cycle and since the 1W MA50 held so emphatically, it is most likely the most optimal level to buy on the long-term.
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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$COPPER Looking for Rally$COPPER has produced an inverse head and shoulders pattern and looks to have tested the neckline. If this pattern plays out, it should see about an 7% rally.
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This magical strategy works like a clock on almost any charts
Although I have to say it can’t predict pullbacks, so I do not suggest this strategy for leverage trading.
It will not give you the whole wave like any other strategy out there but it will give you huge part of the wave.
The best timeframe for this strategy is Daily, Weekly and Monthly however it can work any timeframe above three minutes.
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COPPER (XCU/USD) – Week 37 – Uptrend to continue.Copper respected last week's report and broke the correction top.
In the coming days, we anticipate the pair to make small higher-lows and reach the resistance area.
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 has just entered a Wyckoff Distribution!Hello all.
I think that Copper has just entered a phase of distribution, and I will be longing it for the formation of an Upthrust that will bring the price beyond the Buying Climax.
Like if you enjoy the idea, and consider following and supporting me.
Peace.
TrickleDown FX
Copper9.9.21 Copper I plan to post more on copper. The specific reason for talking about this market has to do with how I make distinctions about probability and markets that are not likely to break out, versus markets that will reverse and go in the opposite direction.
Copper uptrend still validShort term movement looking short position at price 4.3390-4.3395 target at 4.310.
Long position at price 4.2940 target 4.3395 & 4.3830 in extension.
Provided support 4.2805 still strong.
TAYOR
COPPER (XCU/USD) – Week 36 – Preparing for another bullish wave.Copper respected last week's report and made a small pullback.
In the coming days, we anticipate the pair to continue the uptrend and eventually break the top.
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 (XCU/USD) – Week 35 – Bullish move to continue.Copper started the bullish trend that we forecasted last week and it slightly broke the trendline.
In the coming days, we anticipate the pair to make a small pullback and continue the uptrend and eventually break the top.
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 at Critical Level - Will Bulls or Bears Win? Copper is looking to reestablish prior trendline support, which would put the red metal back on a bullish path. Although failing to pierce the level would likely see prices fall back to the psychologically imposing 4.000 level. Momentum appears to be healthy with RSI rising and the MACD line crossing above its signal line, a bullish sign.
