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Xcuusd (Copper)

Copper Bearish AB=CD Pattern ShortWe can see a double top with 2 nice pinbars at an expected level of resistance. Note that this level is the .618 retracement level of the last larger drop as well. The RSI looks as it may be coming out of overbought and we are near the 1.618 extension of the last move up. Please do not use this as a trade signal. I am still learning much about trading and I do not recommend you take this trade -- these are just my ideas. I welcome any feedback or comments below!
COMEX:HGH2017Short
by SharkbaitAl
Copper Expected to Strengthen - Long TermCopper Weekly – At the beginning of 2011, Copper made a directional change and has fallen more than 50% to date. However, with the copper demand growing, the commodity could be ready to make its next directional change in the coming months. China, the largest consumer of copper, is seeing its economy stabilising once again after suffering during the first half of the year. This had led to copper prices increasing over the last month and demand is expected to increase globally over the next four years. However, there is expected to be a large shortage for this growing demand and Citi Bank has predicted that this will lead to a 40% increase in copper prices. On the technical side, we would be looking for price to break out of the triangle, followed by a break of the $2.30 level. Copper prices along with other metals have had a weak final quarter for the past five years but this streak is highly expected to break this quarter. This would most likely mean a break of the triangle which would be a strong sign of a long term price increase. Alternatively, if price broke below $2, a strong decline would be expected.
OANDA:XCUUSDLong
by priyesh