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Copper Futures

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HG1! trade ideas

Copper - Is Copper About to Become the New Gold?Copper Linear Mode Hourly/Monthly With the recent breakdown in gold it seems unlikely to expect appreciation in copper although this chart suggests otherwise. Is copper about to become the new gold ? The Monthly chart shows copper has completed a wave 4 pattern at the lower channel as shown. On the hourly chart prices are currently printing a bullish pattern that will unfold in a larger wave 5 up. Although there is more than one possibility to label the current structure I believe a breakout of the diagonal will confirm this is in the early stage of a wave three pattern upward. This should be a powerful move up so put it on your radar. MONTHLY
COMEX:HG1!Long
by oliverrathbun
Copper Futures ( HG1!), H4 Potential for Bearish MomentumType: Bearish Momentum Resistance: 3.5875 Pivot: 3.3815 Support: 3.2415 Preferred Case: The H4 price is in a downward channel and crossing below ichimoku cloud . The price may drop form the pivot at 3.3815, where the 61.8% fibonacci retracement is to the 1st support at 3.2415 where the swing low and 78.6% fibonacci projection sits Alternative scenario: If there is a price reversal, price will move to 3.5875, where the swing highs and 78.6% fibonacci retracement are. Fundamentals: There are no major news.
COMEX:HG1!
by Tickmill
1
Copper Futures ( HG1!), H4 Potential for Bearish MomentumType: Bearish Momentum Resistance: 3.5875 Pivot: 3.3815 Support: 3.2415 Preferred Case: The H4 price is in a downward channel and crossing below ichimoku cloud . The price may drop form the pivot at 3.3815, where the 61.8% fibonacci retracement is to the 1st support at 3.2415 where the swing low and 78.6% fibonacci projection sits Alternative scenario: If there is a price reversal, price will move to 3.5875, where the swing highs and 78.6% fibonacci retracement are. Fundamentals: There are no major news.
COMEX:HG1!Short
by Genesiv
Copper Futures (HG1!), H4 Potential for Bearish DropType: Bearish Momentum Resistance: 3.5875 Pivot: 3.3815 Support: 3.2415 Preferred Case: The H4 price is in a downward trend and crossing below ichimoku cloud . The price is consolidating now, if the price can break the consolidating area, the price may drop form the pivot at 3.3815, where the 61.8% fibonacci retracement is to the 1st support at 3.2415 where the swing low and 78.6% fibonacci projection sits Alternative scenario: If there is a price reversal, price will move to 3.5875, where the swing highs and 78.6% fibonacci retracement are. Fundamentals: There are no major news.
COMEX:HG1!
by Tickmill
Copper Futures (HG1!), H4 Potential for Bearish DropType: Bearish Momentum Resistance: 3.5875 Pivot: 3.3815 Support: 3.2415 Preferred Case: The H4 price is in a downward trend and crossing below ichimoku cloud. The price is consolidating now, if the price can break the consolidating area, the price may drop form the pivot at 3.3815, where the 61.8% fibonacci retracement is to the 1st support at 3.2415 where the swing low and 78.6% fibonacci projection sits Alternative scenario: If there is a price reversal, price will move to 3.5875, where the swing highs and 78.6% fibonacci retracement are. Fundamentals: There are no major news.
COMEX:HG1!Short
by Genesiv
BEAR FLAG In the context of technical analysis, a flag is a price pattern that, in a shorter time frame, moves counter to the prevailing price trend observed in a longer time frame on a price chart. It is named because of the way it reminds the viewer of a flag on a flagpole. The flag pattern is used to identify the possible continuation of a previous trend from a point at which price has drifted against that same trend. Should the trend resume, the price increase could be rapid, making the timing of a trade advantageous by noticing the flag pattern.
MCX:COPPER1!Short
by kartik89bhatnagar
Copper Inverse Head and Shoulders December Copper has been trading in a range since the big breakdown at the end of June, and a lot of the downward action has come from negative Covid news out of China along with the dollar pushing higher. As we look at the dollar potentially having a blowoff top and the inverse head and shoulders pattern, there could be a push higher toward the 50-day moving average, also aligning with trendline resistance. Continued bearish news out of China or the dollar continuing higher would hurt copper and could drive the market to the bottom end of its current range.
COMEX:HGZ2022
by Ryan_Gorman
Copper Futures (HG! ), H4 Potential for Bearish MomentumType: Bearish Momentum Resistance: 3.5875 Pivot: 3.3815 Support: 3.2415 Preferred Case: The H4 price is in a downward trend and crossing below ichimoku cloud. The price may drop form the pivot at 3.3815, where the 61.8% fibonacci retracement is to the 1st support at 3.2415 where the swing low and 78.6% fibonacci projection sits Alternative scenario: If there is a price reversal, price will move to 3.5875, where the swing highs and 78.6% fibonacci retracement are. Fundamentals: There are no major news.
COMEX:HG1!Short
by Genesiv
Copper Conflict setup!Copper is prevailing at current price of $3.4560 lbs. Futures contract name in Pmex: Copper-DE22. As above you can see Conflict area of HMA and Trend line where prices are consolidates and indicates continuation of bearish Trend is going to exhaust. False breakout: If market makers will use shady methods to manipulates than you can see false breakout, which leads to 3.2460 or in other words you can say Double bottom. Recommendation: Buy from current price: 3.4560 (Partial lot). Incase of false breakout Buy another partial lot at 3.2460 Takeprofit with first lot at 3.5802 and second with 3.8501 Risk Warning! Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital.
COMEX:HG1!Long
by usmand