Copper Nearing a Important DecisionCopper price began forming a negative move, activating with the negativity of the main indicators, to settle near the extra support at $4.5000, facing negative pressures will increase the chances for breaking the current support, to open the way towards targeting extra negative stations, which might begin at $4.4500 reaching $4.3100.
The failure to break the current support might push the price to form mixed trading, and there is a new chance for targeting 50%Fibonacci correction level near $4.6600.
The expected trading range for today is between $4.4500 and $4.5600
COPX trade ideas
Butterfly COPX for 21 Jan'25. This butterfly for COPX. (copper ETF) for 21 Jan 2025 at 55/57/59 is very interesting as it has a ratio of 1:20. (i.e. $1000 purchase for this butterfly today can turn into $20,000 if COPX reaches a price of 57 on 21 January.
If COPX closes between 55 and 59 in Jan'25 then a percentage of the $20,000 will be the profit.
Copper Prices on the Rise - Do Your Research Before You T
Copper prices have recently reached a 14-month high, driven in part by China's economic improvement. This could be a potential trading opportunity, but it's important to be well-informed before making any decisions.
Copper is a key economic indicator, and its demand is expected to rise. However, the market can be volatile.
Here are some resources to help you make informed decisions:
• Copper price charts and analysis
• Information on copper trading risks
Remember, successful trading requires research, understanding your risk tolerance, and aligning your strategy with your goals
#COPX Copper miners ETF reclaims support and now heading higherNice reclaim of the broken horizontal and channel support on the COPX Copper miners ETF. Looks like we're headed back to the top of the years trading range at 41.80 which is an approximate move of 12% from current levels. Dr Copper being a proxy for global growth is always a positive for global markets.
Copper miners ETFAs we embrace the possibility of an increase in demand for copper in the next age of technology robotics and renewable energy will be dominant. The demand for copper will keep on increasing and this will result in copper mining stocks looking attractive to investors fundamentally.
We are still early in the mass adoption of the future of tech and copper is and will be part of the backbone of technology and tech innovation.
Our first entry was filled at $32. In case the ETF dips, we will be waiting for it.
Long COPX- Zigzag Elliot wave pattern is done
- Divergence on 4D chart with Lower Volume
- Risk about 1.5ATR and aim to ride up to 4.5ATR
- Good Long
- You can enter the strongest stock in sector instead of this ETF, I dont like the stocks because they have poor earnings
- Always try to use 2 timeframes
$COPX - Global X Copper Miners ETF$COPX - Global X Copper Miners ETF continues to show relative strength. The ( RSI ) Relative Strength Index has reversed this week to maintain above 50. The volume has also increased since the beginning of the year. Using Fibonacci Retracement Levels, the current Relative uptrend used the 50% Retracement Level as a support and reversal level.
COPX Lets take this trade together. I have been asked to show a trade opportunity am about to take & share it with you. All of the trades i have posted previously were trades that i have executed in the past, so this is something new. So, what are the possible outcomes we can expect
the price may never come to our DZ entry
the price may come into our DZ, we take the trade & the STP is triggered
The price may come into our DZ, demand holds the the trade goes our way
This (W) chart shows a LNG trade i took in Oct-2021 with a tight STP
below the DZ, in Blue arrow
The Red arrows above show the two profit targets, reached
& I CVR all positions.
For This week trade, am waiting for price to ENTR the DZ HL(W),
i have an alert set. if price was to enter this zone, then
I will evaluate trade's odd enhancers, like
- unbalance selling into the DZ
- candle formation in the DZ
- Price Bollinger bands & moving average
Based on the odd enhancers I have, i will decide to
the LNG ENTR
COPX LongAMEX:COPX
The Global X Copper Miners ETF (COPX) provides investors access to a broad range of copper mining companies. It seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Solactive Global Copper Miners Total Return Index.
www.globalxetfs.com
#COPX #DRCOPPER Copper miners about to rip?Keep an eye on the copper x etf which tracks miners which are engaged in the mining of Copper. Every time we've seen a heavy spike in volume this year has resulted in a corresponding top or bottom for Copper miners. My guess would be another bottom could be forming here...
COPX - Multi Year Consolidation - Cup and Handle pattern Copper miners in a long term consolidation phase since it hit its peak in 2011. Eventually it's forming a cup and handle pattern. Expect COPX to test the $47 level strong resistance in next 9-15 months, eventually getting into a multi year bullish breakout crushing all hit highs.
$COPX / #HG1! copper miners ETF/ $coppe. IH&S / W-pattern Here is a thing of beauty! Measured move is a 40% increase in the RATIO! So if copper goes up 60%, it's a bag
THe best thing is the target it evident and looks pretty accurate.
So we can use that measured move to infer the BO time. That will come on following tweets.
BF bullflag BO of a shoulder