Fibonacci Retracement on CopperCOMEX:HG1!
Fibonacci Retracement applied on daily timeframe of COMEX:HG1! suggests that it will rally towards 4.47 after crossing 4.16 as strong candlesticks are being made.
QC1! trade ideas
Copper Cruising Higher!Copper was in a significant downtrend since the March 7th highs, bottoming out in July and has been trending higher from there. The precious metals have been trending higher with the dollar coming off its highs, and with this recent push higher, Copper has entered overbought territory. Going back to October of 2021, when the RSI for Copper is at or above 70, there has been an immediate decline in the price. This is not an exact science, but the market might look to take a breath and back test previous trendline resistance now acting as support.
XCUUSD ( COPPER / USD ) Commodities Analysis 10/01/2023Fundamental Analysis:
china is the biggest copper consumer and as of now we can see the most of its manufacturing plants and factories are getting shut due to Protests and ongoing havoc in the country.
DXY is very bullish which can go up to 130 and ultimately will result in the more price fall in the commodity sections.
World economic Crisis and Supply chain Disturbance which will lead to the Manufacturing Halt.
Technical Analysis:
Bearish Divergence of Price and MACD,
Hidden Bearish Divergence Formation in the process which is a very strong Bearish Trend continuation sign.
Nest Resistance and Potential Pivot Point 9500$
lower Support at 8450%
Bearish Targets: 5800$, 5250$, 4300$
#DR copper broken solid resistance and back above 200dmaHard to be bearish on global markets when probably the biggest proxy for growth is showing really strong technical action. Dr Copper has broken out its triangle which has kept price action constrained and under the 200dma for the better part of 2 months. It has now also broken above the 200day moving average with higher targets in play
Copper FuturesCopper Futures: Trading at a key Level. Trading at prior demand which may turn to supply.
For more research insights, including trade ideas, get in touch today.
HG1! Potential For Bullish ContinuationLooking at the H4 chart, my overall bias for HG1! is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. Looking for a pullback buy entry at 3.9335, where the 23.6% Fibonacci line is. Stop loss will be at 3.7085, where the recent low is. Take profit will be at 4.4555, where the 88% Fibonacci line is.
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MCX COPPER : VIEW SELL MCX:COPPER1!
RATIONALE : COPPER JAN : As per Technical chart, considering resistance price range of 750-755 level .Hence we may see some profit booking or bull move to be slow, it may expected to move towards 744 -740 price level
HG1! Potential For Bullish ContinuationLooking at the H4 chart, my overall bias for HG1! is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. Looking for a pullback buy entry at 3.9280, where the 23.6% Fibonacci line is. Stop loss will be at 3.7085, where the recent swing low is. Take profit will be at 4.2575, where the 78.6% Fibonacci line is.
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Copper going for itLooks like it could make a run here above this level and a breakout from the ascending triangle.
Copper Futures (HG1!), H4 Potential for Bearish DropTitle: Copper Futures (HG1!), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 3.9600
Pivot: 3.6885
Support: 3.5545
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to head back down towards the pivot at 3.6885 where the 61.8% Fibonacci line is.
Alternative scenario: Price may possibly head towards the resistance at 3.9600, where the previous swing high is.
Fundamentals: There are no major news.
Copper Futures (HG1!), H4 Potential for Bearish DropTitle: Copper Futures (HG1!), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 3.9600
Pivot: 3.6885
Support: 3.5545
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to head back down towards the pivot at 3.6885 where the 61.8% Fibonacci line is.
Alternative scenario: Price may possibly head towards the resistance at 3.9600, where the previous swing high is.
Fundamentals: There are no major news.
Update on my previous copper ideasDespite Copper falling 38% from its ATHs, we still haven't seen deflation, even though inflation seems to have peaked for now. The inflation story doesn't seem to be over; even inflation moderates and goes close to or below 2%. The big problem right now is that the Copper inventories are extremely low and that the demand for Copper seems to be increasing because of all the green technologies that are being developed. Therefore despite the high-interest rates and the drop in the money supply globally (reduction in overall liquidity, along with a strong dollar), it is possible to see Copper rally higher from here. With the recent drop in the dollar and the potential peak in the USD and short-term interest rates, the market may have bottomed.
Of course, this isn't the only reason the market has bottomed. Copper fell a lot, and it hit critical support. They seem to have bottomed at their previous significant highs along with Silver and reversed the upside. I don't think the final bottom is in, although it could be. In my opinion, the market is heading towards 4$ in the short term. Still, in a long time, it is directed towards 2.7$, and maybe even towards 1.6-1.9$ if we get the short-term deflationary collapse, I expect. After the failure, I think new ATHs will come, as Central Banks and Governments globally will print insane amounts of money to save their economies from collapsing.
Copper Futures (HG1!), H4 Potential for Bullish RiseTitle: Copper Futures (HG1!), H4 Potential for Bullish Rise
Type: Bullish Rise
Resistance: 3.9600
Pivot: 3.6885
Support: 3.5545
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to possibly head towards the resistance at 3.9600, where the previous swing high is.
Alternative scenario: Price may head back down towards the pivot at 3.6885 where the 61.8% Fibonacci line is.
Fundamentals: There are no major news.
Doctor Copper, another decision point at the daily SMA 200.The copper price is testing the underside of the daily SMA 200, which is trending down. It has been in a grinding rally since July, but this is the obstacle to potentially breaking the downtrend.
Copper Futures (HG1!), H4 Potential for Bullish RiseTitle: Copper Futures (HG1!), H4 Potential for Bullish Rise
Type: Bullish Rise
Resistance: 3.9600
Pivot: 3.6885
Support: 3.5545
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. If this bullish momentum continues, expect price to possibly head towards the resistance at 3.9600, where the previous swing high is.
Alternative scenario: Price may head back down towards the pivot at 3.6885 where the 61.8% Fibonacci line is.
Fundamentals: There are no major news.
Copper Futures (HG1!), H4 Potential for Bearish DropTitle: Copper Futures (HG1!), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 3.9600
Pivot: 3.6885
Support: 3.5545
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bearish due to the current price crossing above the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to possibly head back down towards the pivot at 3.6885 where the 61.8% Fibonacci line is.
Alternative scenario: Price may head towards the resistance at 3.9600, where the previous swing high is.
Fundamentals: There are no major news.
Copper Futures (HG1!), H4 Potential for Bearish DropTitle: Copper Futures (HG1!), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 3.9600
Pivot: 3.6885
Support: 3.5545
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bearish due to the current price crossing above the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to possibly head back down towards the pivot at 3.6885 where the 61.8% Fibonacci line is.
Alternative scenario: Price may head towards the resistance at 3.9600, where the previous swing high is.
Fundamentals: There are no major news.
Copper Futures (HG1!), H4 Potential for Bearish DropTitle: Copper Futures (HG1!), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 3.9600
Pivot: 3.6885
Support: 3.5545
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bearish due to the current price crossing above the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to possibly head back down towards the pivot at 3.6885 where the 61.8% Fibonacci line is.
Alternative scenario: Price may head towards the resistance at 3.9600, where the previous swing high is.
Fundamentals: There are no major news.
Copper Futures (HG1!), H4 Potential for Bearish DropTitle: Copper Futures (HG1!), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 3.9600
Pivot: 3.6885
Support: 3.5545
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bearish due to the current price crossing above the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to possibly head back down towards the pivot at 3.6885 where the 61.8% Fibonacci line is.
Alternative scenario: Price may head towards the resistance at 3.9600, where the previous swing high is.
Fundamentals: There are no major news.
HG1! IDEA 4HOURS TIME FRAME Hello guys this is my trading idea about HG1! .
We have head and shoulder pattern + we get rejected from the resistance at this time we just looking for short trade
Thank you .
Likes and Follow for more ideas Thank you .
Short copper futures ( Mar 2023 )Short at price 3.8430; 3.8635 and 3.8890
Stoploss at 3.9410
Take profit at 3.6475
Copper Futures (HG1!), H4 Potential for Bullish ContinuationTitle: Copper Futures (HG1!), H4 Potential for Bullish Continuation
Type: Bullish Continuation
Resistance: 3.9600
Pivot: 3.6885
Support: 3.5545
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to possibly continue heading towards the resistance at 3.9600, where the previous swing high is.
Alternative scenario: Price may head back down towards the pivot at 3.6885 where the 61.8% Fibonacci line is.
Fundamentals: There are no major news.
Copper Futures (HG1!), H4 Potential for Bullish ContinuationTitle: Copper Futures (HG1!), H4 Potential for Bullish Continuation
Type: Bullish Continuation
Resistance: 3.9600
Pivot: 3.6885
Support: 3.5545
Preferred case: Looking at the H4 chart, my overall bias for HG1! is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to possibly continue heading towards the resistance at 3.9600, where the previous swing high is.
Alternative scenario: Price may head back down towards the pivot at 3.6885 where the 28.2% Fibonacci lien is.
Fundamentals: There are no major news.
