Copper: Inverse H & S (reversal)With gold going parabolic and silver futures up, copper shouldn't surprise anyone. Wait for bullish confirmation at 1.20. The Inverse H & S as a continuation pattern is more successful than the inverse H & S as a reversal. 53% success w/reversal, 62% w/continuation.
WRN is on my watch list.
WRN trade ideas
WRN- A copper mining Penny Stock WATCH for LONGWRN is on 15 minute chart. The ideas is described on the chart in textboses with a head
and shoulder pattern identified as well as a Fibonacci retracement leel and dual anchored
VWAP to identify areas of high liquidity and trading volume. The trend indicator adds support
to waiting for a best entry as marked on the chart. Once entered, my expectation is for a
10-15 % move in a single week long swing trade.
WRNWestern Copper and Gold Corp (NYSEAMERICAN:WRN) displayed relative strength with a 6.53% gain on Friday. The stock broke out of its bullish wedge pattern suggesting a further move to the upside and continuation of this bullish trend. Technically speaking the stock is now painting a short-term “Bullish” picture. Consistent move above $2.16 (horizontal resistance line) could be a beginning of a new technical bullish reversal at least testing the 2.4/2.5 area.
WRN: Bullish FlagBullish Pennant
Pros:
Descending volume during formation
PPS above 50MA and 200MA
RS above 0, and ascending
ATR Ascending
R/R ratio above 6
250RSI above 50
200MA ascending
Target:
PT = 2,63$
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$WRN Long copperGreat setup to break above highs set back in 2017. Great volume profile on this one that should work as a launch pad. Considering incoming inflation in the future, it's a decent way to diversify. I like an entry if it back-tests the purple line and if it holds March's lows anchored VWAP.
WRN- Do You Feel Lucky?Western Copper and Gold Corporation, an exploration stage company, engages in the exploration and development of mineral properties in Canada. The company explores for gold, silver, copper, and molybdenum deposits. It holds interests in Casino mineral property located in Yukon, Canada. The company was formerly known as Western Copper Corporation and changed its name to Western Copper and Gold Corporation in October 2011. Western Copper and Gold Corporation was founded in 2006 and is headquartered in Vancouver, Canada.
*Believe that WRN has hit a price reversal zone, after a drop to fib. ret of 0.786 on chart. Will be confirming to go long for rest of year, with a possible pay off on every $100 for rest of year of $70 profit, price action hits 1.70 in future. %70 profit on every dollar is not a back RATE OF RETURN. If interested, do your own homework on this or any other possible investment choices. *Note, only issue is liquidity or volume of trading per day of 100,000, but may still work.
Note, bollinger band 20 MA is a great confirming trend line to be aware of on longer time frames. You could wait for price action to close at or above that blue line on WRN daily chart, to start a bullish trade (if you are conservative trader). Only thing you trade, is initial bullish move up out of a support area.
WRNWestern Copper & Gold Corp. (WRN) topped out with world commodity markets in 2011, posting an all-time high at $4.49, ahead of a brutal downtrend that hit an all-time low at 20-cents in January 2016. The subsequent recovery wave stalled just above a buck in July, giving way to a narrow consolidation that yielded a December breakout up to $1.80. It’s been grinding sideways for the last two months and is now testing range resistance, with a breakout opening the door to an advance that could eventually test the 6-year high.