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CFDs on Copper

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COPPER trade ideas

No trouble yet, but there are question marksCopper has been one of the best performing metals so far, but are things really that rosy to justify such a high price after such a long bull run? Here are few points that worth to examine: - The trend is still bullish, but I see a minor negative momentum divergence on the daily haOscillator, haDelta+ and EWO. - There is a possible bearish wedge being formed on daily. This pattern often proves to be reliable together with momentum divergence. - Weekly chart may be losing momentum too, there is also a visible negative momentum divergence relative to price. In case haOscillator fails at its mid line and crosses down again, then a quick retracement will happen to 2,80-2,90 zone. - Weekly price is extremely far above equilibrium level, even if we consider that as past candles will soon fall out, the Kijun and Senkou B average lines (currently both at 2,5313) will quickly catch up. - Weekly EWO is at highs not seen since end of 2017, when market started to form a top. - price on the weekly chart has enterred a hard resistance zone: highs of 2017-2018. All together it doesn't look heavy, but the question for now wether it's possible to keep up this pace of the bullish squeeze? Support levels to watch: 2,932 / 2,871 / 2,821
FX:COPPERShort
by Kumowizard
Copper/Gold RatioWe might start to see longer term US bond weakness as the copper/gold ratio rebounds off the lower extreme of it's descending channel. In this example I'm using TLT, an ETF. These two have an inverse relationship and also correlate with the US dollar. Long term US bonds and the USD tend to have a positive correlation giving both a bearish outlook. This is more for analysis than trading and can provide another piece to the USD bear picture. Over the coming months or year we may see USD continue it's bearish trajectory, keeping it weak against it's major counterparts. My relative analysis says USD is currently weak and stronger currencies to pair against are AUD, CAD and NZD.
FX:COPPERLong
by Aperna
6
No stopping for CopperAfter the historic bull run across the commodity market it seems we have finally seen a long awaited pullback. My medium/ long term projection is still favouring more bullish price action although as it stands all pairs are range bound. It seems as though Copper in particular has been scooped up by Chinese investors as well as being influenced by a boom in home builders, paving the way for more long positions. Of course the path will not be linear; I suggest buying dips for the long term and trading intraday positions (as seen above) over the short term.
OANDA:XCUUSDLong
by RitchGBP