COPPER Buy Signal (Support)Pattern: Fibonacci retracement.
Signal: Bullish either now (1D support) or on the 0.382 Fibonacci.
Target: 2.96000.
Hg1
Is EURUSD a leading indicator for Copper?Based on their correlation since 2002 we can say that EURUSD is a leading indicator for Copper. Especially since 2010, they both trade within a 1M Channel Down, with EURUSD however respecting the Lower Highs/ Lower Lows more. So with EURUSD on a long term bearish trend towards the 1.0358 support, we expect 2.000 long term for Copper. Technically Copper's 1M is on a pivotal point, being neutral overall (RSI = 53.441, Williams = -49.469, CCI = 9.9212, Highs/Lows = 0.0000) so expect the break lower to take place soon.
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Copper: Buy opportunity on the 1D Higher Low.The price is trading on a 1D Channel Up (RSI @ 61.767, MACD @ 0.035), which has made this week a Higher Low (Highs/Lows @ 0.0000). The next Higher High is expected on a +8% rise but we are taking a more conservative target. TP = 3.03455.
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Copper: How far will it fall?I have two ideas in mind, bounce at 2.84 ....or bounce at 2.74 (for the optimist bear (me!))
I hope my thinking is clear from the graph (ignore the memelines from earlier, i usually don't publish).
In conclusion, i see a solid trend brake and no support in sight
Please share your thoughts with me so i can improve :D
I have moved my stop loss for my short to 2.88, and i began at 2.9 if anyone cares.
WARNING: I am not very experienced
Copper Buy SignalPattern: Channel Up on 1D.
Signal: Bullish as the price is close (-3.35% pull back) to making a Higher Low.
Target: 2.9765.
UPDATE: Dr Copper confirms near term RISK OFFIn tandem with many other markets (crude oil/equities) we are expecting corrections. From a technical view, copper has completed a perfect flat correction and we should expect immediate downside from here.
Copper in RiseIt is not new that this year 2019 with the rumors and the suspension of tariffs added to it the good perspectives on a possible agreement between China and the United States. pushed the red metal ( copper ) ,but approaching a great ressitencia, follow the good forecasts is not unreasonable the price continues to climb positions, but all this will be seen soon.
Copper (HG1!) - Aiming for 618 Fib (18% move from January bottomFundamentals:
No major supply disruptions occurred in 2018 and most labour negotiations have been agreed. However, overall growth has been negatively affected by lower output at some mines in Canada and operational problems in China, Peru and the United States. As a consequence the ICSG growth forecast for mine production was revised down to 2% compared with the previous forecast of 2.9% made in April 2018. knowing this growth in 2019 world mine production, adjusted for disruptions, is predicted to be around 1.2% and is expected to be impacted by a sharp decline in Indonesian output.
Copper also tends to more sensitive to inflation and moves correlated. Inflation base case is mild inflation which should support copper prices.
Technicals:
Copper had a double top formation in 2018. First peak hitting in January 2018 and second in June. From there the commodity dropped nearly 25% from a high of $3.30 to a bottom in Aug 2018 at $2.50. The metal climbed to its 38.2% Fib extension before trading down for a double bottom technical bounce in Jan 19'.
Indicators:
Stochastic: Overbought
RSI: 69. Near overbought
ADX: 23. Bull trend confirmation intact.
Copper Bulls have the technicals, momentum and industry production support for a continued bull run in all of 2019. We expect prices to test in 2019 the 618 Fib, which would be a 18% bounce from the January bottom this year at a target price of $3.01.
SHORT IT TO THE GROUND!Self explanatory.
0 strong fundamentals driving the market.
Trend = 0 trend.
Go with the basic TA.
Easy.
Copper: Sell opportunity on 1D.Copper has been trading sideways on 1W (RSI = 50.950) since late July within a strong 2.5425 - 2.8715 consolidation zone. The price was rejected last Friday on the 2.8390 - 2.8715 Sell Zone and since 1D turned already to neutral CCi = 33.6567, Highs/Lows = 0.00000, a strong sell opportunity is presented. We are taking this short signal with TP = 2.6665.
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AUD following CopperThe Australian dollar is a known proxy for copper, so the recent rally may be a leader for a rally in the currency.
Copper Futures (HG1!) Summary for End Week 4 - 2019So copper seems to have bottomed twice around the 2.60 area and is trying again to push higher following its rapid demise mid 2018.
Technically we can see the chikou san is still below price 'N' periods back and the tenkan san is yet to cross the kijun san to signify the possible start of an uptrend. However it's going to have to push through well set resistance at around 2.74 before hitting further potential resistance at the bearish kumo above.
Fundamentally the elephant in the room is of course China and much depends on the on-going trade spat with Trump and the apparent slow down in growth. We still need to keep an eye on the strength of the US$ which seems to be treading water right now. All that said, potential supply constraints are likely to help support price and if two or more of the above conclude favourably, we may well be able to retest the 2018 highs of 3.30 and above.
[Do your own research - above not investment advice and for my own analysis, though constructive comments always welcome)
WAIT FOR NOW
XCUUSD Copper: Bearish Trendline is brokenXCUUSD Copper ( Spot FX Rate ) is trading at 2.6570 as of writing.
We see a bullish bias in the industrial metals sector, triggered by the US/China trade talks.
On the smaller charts, Copper broke the bearish trend line. Metal is printing a cup and handle pattern.
Copper: Buy opportunity on a 1W Rectangle.Copper has been trading within a long term 1W Rectangle (STOCH = 49.048, Ultimate Oscillator = 49.708) with 2.52850 - 2.53850 as the Support zone and 2.83470 - 2.84595 the Resistance. A repetitive pattern that stands out is a sharp rise that is followed every time after a 1D Lower High sequence breaks to the upside. We are currently close to such an event so we are on a medium term long with TP = 2.78300.
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Copper: Set to breakout after trade truce & inverted H&SCopper has filled Monday's gap and may be set to break higher again in line with LT inverse H&S bottom
Metals Group Outlook - CopperThe Copper daily chart corresponds to the article "Metals Group Outlook".
King River Copper - ready to go up as Cu/V2O5 ready to go upKing River Copper: KRC HG1!
Copper is showing key crossing of 20/50/100 day MAv and this Australian miner also produces Vanadium Pentoxide used for High Strength Steel, Aerospace engines, and rebar for concrete reinforcement. Currently below 786 Fibonacci Retracement and low bid entry 0.05 area.
What Can Doctor Copper Tell Us?With a PhD in Economics, what can Doctor Copper tell us is going to happen next in the economy? Since 2004, the price of copper has exploded above $1.5 a pound, seemingly corresponding with the timing of tremendous growth in the Chinese economy. Now that their economy is slowing down, what can we expect?
Doctor Copper says to expect lower economic activity over the next couple of years…
HG1!Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit. The Peruvian operations segment includes the Toquepala and Cuajone mine complexes, and the smelting and refining plants, including a metals plant industrial railroad and port facilities that service both mines. The Mexican open-pit operations segment includes the La Caridad and Buenavista mine complexes, and the smelting and refining plants, including a metals plant and a copper rod plant, and support facilities that service both mines. As of December 31, 2016, the Mexican underground mining operations segment included five underground mines that produce zinc, copper, silver and gold, a coal mine and a zinc refinery.
SCCO
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AMEX:COPX
