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Xcuusd (Copper)

Copper: the weak hands have been shaken out.Massive extensions are not uncommon: Weekly chart: The indices falling would not cause the price of copper to fall, this did not happen previous it is not true that the price is tied to the economy as what is told. Also chinese people use copper as a safe store for their money. Price went down in 2008 but this is irrelevant. Went up in 2000-2007. Giants China and India are urbanising, demand for copper long term is up up up up. Tech needs more and more copper. No brainer. Why wouldn't the price go up?
COMEX:HG1!Long
by MrRenev
6
Copper: +7% bullish potential.Copper is on a standard 1D bearish sequence (RSI = 39.990, MACD = -0.034, Highs/Lows = -0.0234) that has just (marginally) crossed the 2.74170 Support. With the RSI however approaching the 32.800 mark, a bullish reversal alert is triggered as the last 4 times that the price bounced near or just below this mark, Copper gained +7 to +8%. Assuming that happens now we are looking at a 2.9000 target. If it takes place lower (-3.85% lower by the previous occurrence), we expect 2.80000. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
OANDA:XCUUSDLong
by InvestingScope
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.
OANDA:XCUUSDShort
by MANNI0812
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. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
COMEX:HG1!Short
by InvestingScope