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COPPER trade ideas

copper towards new 52 weeks high in 2024?The commodity has been in a corrective phase well from the beginning of 2023 which now seems to be coming to an end. This could mean new 52 week high for the commodity by early 2024. in terms of Elliot wave structure the stock is currently in wave ii of wave 3. The up move to be looking forward to would be the wave-iii-3 which could well take the commodity price to 4.65-4.67 from the current levels. on the downside the sept 2022 low of 3.24 should hold and not be breached for the analysis to hold. note*- this is an educational post only
CAPITALCOM:COPPER
by neeraj_2_sharma
2
copper usd- mentoringopper speculative view weekly on the way to tests major area since first time it was there abou at 2006, it looks bearish like a huge inverted cup&hundle on weekley but to me it looks more like a retests of the support and in strange feeling im leaning that it will folow orange juice and coffe basicly the food and metals are getting more expensive in the world . all theory will be demolished if price close and retest under 3.25645 area look for short if close under 3.54426 area look for long if close above 3.56159 area *** Tolerance will reach such a level that intelligent people will be banned from thinking so as not to offend the imbeciles- F.M.dostoyevsky
CAPITALCOM:COPPER
by justclueless123
copper - mentoringcopper speculative view weekly tests major support area .it looks bearish and kinda on the way to create a descending triangle on weekley but could be retest of the support since 01.2021 all theory will be demolished if price close and retest under 3.54941$ area look for short if close and rejects 3.54941 area look for long if close and holds 3.63642 area *** Tolerance will reach such a level that intelligent people will be banned from thinking so as not to offend the imbeciles- F.M.dostoyevsky
CAPITALCOM:COPPER
by justclueless123
Dr copper potential more downside moveHello traders, lets take a look at copper which testing an important resistance area and see what can possibly happen and what are the consequences of possible bearish move in other markets like us equities. first lets talk technical, price overall bearish Daily move in copper formed a standard #head_and_shoulder pattern in form of consolidation in downtrend move and as we know this chart pattern in the middle of a move showing continuation. As it can be seen price formed clear H&S pattern and now forming possible LH at key resistance area below Daily EMA and at the 4H timeframe 200 EMA. more importantly price failed to close above 3.80$ in the past 3 days. Also we know that copper as one of the most important commodities is very sensitive on economic data, and since central banks are in raising interest rate campaign in order to take control inflation this can be interpreted as lower economic growth and as a result les demand for industrial commodities like copper which can bring prices lower. so now obvious chart pattern and a valid downtrend, price testing important resistance area and failed to break above it and more importantly we have fundamental aspect inline with technical analysis which all together gives good odd to find a trigger to short.
CAPITALCOM:COPPERShort
by mohemati
$Copper Trend line break In the context of technical analysis, when CAPITALCOM:COPPER experiences an uptrend trend line break to the downside, it typically serves as a warning sign for investors that the previous bullish momentum may be waning. Such a break could indicate that the asset is shifting from a bullish to a bearish trend. This is often considered a sell signal or at least a reason to reconsider long positions in the asset. Investors considering this development should look for additional confirmation signals such as increased trading volume during the break, bearish candlestick patterns, or other technical indicators turning bearish, such as the MACD crossing below its signal line or the RSI moving below 50. It's also advisable to check for any fundamental factors that may be influencing the price of copper, such as economic data releases or changes in market sentiment, to ensure that the technical signal is not a false one. In summary, a trend line break to the downside in an uptrending CAPITALCOM:COPPER market could be a significant bearish indicator, and investors should exercise caution and consider employing risk management techniques like setting stop-loss orders.
CAPITALCOM:COPPER
by AlgoTradeAlert