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No stopping for CopperAfter the historic bull run across the commodity market it seems we have finally seen a long awaited pullback. My medium/ long term projection is still favouring more bullish price action although as it stands all pairs are range bound. It seems as though Copper in particular has been scooped up by Chinese investors as well as being influenced by a boom in home builders, paving the way for more long positions. Of course the path will not be linear; I suggest buying dips for the long term and trading intraday positions (as seen above) over the short term.
OANDA:XCUUSDLong
by RitchGBP
Copper: First Corrective Wave TargetIn "Copper Tempest" (see related ideas), I analyzed the macro-view on Copper. Now it's time to act. My trade starts from 2.8462 with final target of 2.8125 (end of first corrective wave). Stop Loss set at 2.8537. Disclosure: My ideas contain statements and projections based on assumptions on capital markets, and therefore inherently subject to numerous risks and uncertainties. Before buying or selling any stock you should do your own research and reach your own conclusion or consult a financial advisor. Investing includes risks, including loss of principal. I am not a financial advisor.
OANDA:XCUUSDShort
by Investing_Fellow
ridethepig | Copper Driving China Capital Flows As you can see the strong relationship Copper has with Chinese equities, you will notice what has been the case for these final stages of the economic cycle, metals have been moving miles ahead of equities. We got the floor set in Copper as widely expected all year: Any dips now look competitive: Copper has been allowed to outperform Gold: Bulls need to reclaim the highs in Chinese Equities after the -10% leg: A weaker USD will help reinstate a bullish outlook for Copper, support clearly seen at $2.715, then $2.675 - which I expect to hold. Thanks for keeping the support coming with likes and as usual jump into the comments with your charts and views to open the conversation up for all!
OANDA:XCUUSDLong
by ridethepig