Xcu
SHORT CopperThe Doc will pass his verdict as to the broad global slowdown in the very near future, folkz!
XCU USD SELL (COPPER - US DOLLAR)Hi there. Price is forming a continuation pattern to the downside. Watch strong price action at the current price for sell.
CPER: United States Copper ETFBecause of copper's widespread applications in most sectors of the economy — from homes and factories to electronics and power generation and transmission — demand for copper is often viewed as a reliable leading indicator of economic health.
CPER ETF seeks the daily changes in percentage terms of its shares’ per share net asset value (“NAV”) to reflect the daily changes in percentage terms of the SummerHaven Copper Index Total ReturnSM (the “SCI”), less CPER’s expenses.
M timeframe BEAR
W timeframe BULL
FIB retracement 61.8 acts as support BULL
INVESTORS too negative about global growth BEAR
GROWTH continues with but with slower rate BULL
RSI W oversold with divergence BULL
MACD divergence with bears loosing momentum BULL
DXY index too appreciated expecting dollar weakness which would be good for commodities BULL
RRR favorable BULL
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"COPPER (XCUUSD): ready to go up" by ThinkingAntsOkDaily Chart Explanation:
- Price is against a Weekly Support Zone.
- Price is under a Descending Trendline.
- Bullish Divergence on MACD.
- If price breaks the Descending Trendline at 2.68, potential to move up towards the Resistance Zone at 2.96 and, then, to the Weekly Resistance Zone at 3.2.
Our Weekly Vision supports this potential long idea. Take a look!
Weekly Vision:
Updates coming soon!
COPPER SELL (COPPER - US DOLLAR)Hi there. Price is moving impulsively to the downside. Wait for the price to complete the continuation pattern that its forming and watch strong price action action for sell.
"Top and Bottom Analysis" Copper (XCUUSD) by ThinkingAntsOk4H Vision Explanation:
- Price broke the Descending Trendline and started an up move.
- It has potential to go up towards the Major Resistance Zone at 2,96767, being careful with the Middle Support Zones.
- However, the Bearish Divergence on MACD could be anticipating a Pullback to the broken Resistance Zone that is now a Support Zone.
We are also long in our Weekly and Daily Vision.
Weekly Vision:
Daily Vision:
Copper Sell OffOANDA:XCUUSD
Feeling a short opportunity for XCU this week. Currently we have ended last week below the ascending trendline and broke out of consolidative wedge forcing us to go below. I will stick pending orders just below the trendline that has broken in anticipation for a retest of that break to then go back down. I have set 3 take profit target levels for positions to mature. 1 in the middle which looks like a good S&D level. The bottom of the Yellow Macro S&D level. and bottom at our 61.8 FIB retracement to potentially end that sell off to then wait and see what happens at a future date.
Copper next to lose its shine... Strong Dollar prevailsThose who have been following the Portfolio we are building on Tradingview will know where we are in the current Gold move (see attached ideas as we are not going to cover this here).
The upside in Dollar is here till Summer meaning we have a sharp leg to the downside in play for Copper. Gold has already moved first, and here expecting copper to start moving as collateral in this 'B' leg.
Keep a close eye on the DXY chart, let's open the discussion for all those Copper traders and see how it goes...
Best of luck all!
XCU USD BUY (COPPER – US DOLLAR)Hi there. Price is forming a continuation pattern to the downside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
Copper XCU $3.70 soon When you see copper goes you should see major moves in the stock market as well. After hearing Harry Dent speaking about the Dark Window, which occurs every 90 years, I’m starting to look at things in a little different way. Instead of a market crash we could see commodities and stock market rallying to all time high and the dollar weakening, hence gold rising as well. If the green back weakens then USA exporters would benefit and that trillion dollar trade suggested by China could be the push the USA economy needs.
COPPER BUY (COPPER – US DOLLAR)Hi there. Price is still in the continuation pattern to go up. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
copper potential buy zoneThis is the spot XCU can go up from. If it breaks the last low I might look at it differently. It would need to make a correction to confirm a sell as far as I can see from the pattern.
Copper: 1D Channel Down. Short.Copper (XCUUSD) is trading within a 1D Channel Down (Highs/Lows = -0.0144, B/BP = -0.0590) after having made a Double Top at 2.8400 (late Sep, early Oct). If the previous 2.6887 Lower Low and 1D support is crossed then HG1! should make a new 2.6600 Lower Low and attempt a break out. Otherwise the Channel Down will make a new Lower High near 2.7800 before it attempts to break the 2.6887 Support again. In any case the long term trend as suggested by 1W remains bearish (RSI = 43.931) so shorting every Lower High is the most optimal approach. Our TP is 2.6600 and 2.6000 in extension.
Trading inside a Rectangle. Short.Copper is trading sideways for more than a month now within a 2.5400 - 2.7350 Rectangle on 1D (RSI = 56.012, MACD = 0.000) and the High Volatility (ATR = 0.0544) ensures the preservation of this neutral action. As seen the price has just been rejected on the Resistance, so we are now short aiming at 2.565.
Trade setup for #XCUUSD #COPPER #METALSShort till first support and then trade as per the reaction on the support.
Correlate with chart
Copper Long- Breaking downtrend (purple line)
- I am a buyer at confirmed breakout of first Retracement level (yellow line)
- Volume Profile suggest we could see the price move from current levels to 2.83 and even 2.9 with little resistance (according to 1D volume profile)
- This kind of attempted breakout, seems to common amongst the commodities complex.
Counters:
- as always, short squeeze
- DXY strengh
- continued CNY/CNH weakness
So far Long. But bearish reversal if 2.6938 crossed.Copper is on important crossroads. It has so far rebounded on the 1st 1W support at 2.69388. This is a medium term bullish signal towards 2.85479 as 1D is already easing the previous oversold MACD = -0.081, Highs/Lows = -0.0468, B/BP = -0.1300. 4H is already on neutral STOCH, ADX, Williams, Highs/Lows, steady enough to sustain this bullish counter-leg. The current trade is long, TP = 2.85479 but if 2.69388 breaks, then we'll take a short towards the 2nd 1W support (2.45945) with TP = 2.45945.
Nice buy setup on copperThe correction phase is over and i think we will start the long movement now (See the previous chart for the analysis)
Best of luck
