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Copper (CPR) / US DollarCopper (CPR) / US DollarCopper (CPR) / US Dollar

Copper (CPR) / US Dollar

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CPRUSD trade ideas

COPPER Potential for Bearish DropOn H4, with the price moving below the ichimoku cloud, we have a bearish bias that the price may drop form the sell entry at 3.3747, where the swing low and 61.8% fibonacci retracement are to the take profit at 3.2362, where the swing lows are. Alternatively, the price may rise to the stop loss at 3.4543, which is in line with the 23.6% fibonacci retracement and overlap resistance. 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.
VANTAGE:COPPERShort
by VantageMarkets
Copper analysis: Has the bear market rally ended already?After a 37% decline from its peak of $5.03 per pound in early-March 2022, copper has risen 14% since July's lows. However, the metal has recently been unable to overcome key resistance levels represented by the 50-day moving average and the descending channel trendline, as fresh worries about global growth slowdown and monetary policy tightening reemerged this week. Key macro events of the week: China, the world's largest consumer of copper, unexpectedly lowered lending rates in an effort to boost demand after reporting weaker-than-anticipated July numbers for industrial production (3.8% vs 4.6% expected), fixed asset investments (5.7% vs 6.2%), and retail sales (2.7% vs 5%). In the United States, the New York Empire State Manufacturing Index plunged to -31.3 in August of 2022, from 11.2 in July. This is the lowest reading since May of 2020, and it indicates that business activity is weakening as a result of a collapse in new orders and shipments. Germany's ZEW economic sentiment index has fallen to its lowest level since October 2008, and the UK inflation rate has risen to double digits, the highest in 40 years, adding fuel to the fire and reigniting fears of a global recession. Ultimately, the Minutes of the FOMC's July meeting revealed that there is still a long way to go before declaring the war on inflation won, with members indicating that adopting a more restrictive policy stance was critical to avoiding a worsening of inflation expectations. This implies that the Fed's tightening is far from over. Copper technical analysis A bear market rally that is nearing exhaustion can be seen on the copper daily chart. The price action this week has been unable to break above both the bearish channel and the 50-dma, the RSI has tilted to the downside, and the MACD is getting close to a bearish crossover. A similar pattern occurred earlier this year, in the first week of June. After a 14% rebound from May's lows, copper briefly surpassed the 50-day moving average before beginning a severe, steep decline that lasted until mid-July. The RSI and MACD indicators both showed similar patterns to what we are seeing now. Bottom line, a copper's short-term pullback to the bearish channel's midline in the $3.2-3.3 area seems more likely, given the current technical setup. Breaking decisively the 50-dma and bearish channel resistances would invalidate the thesis and raise the odds of a $4.00 per pound test. Idea written by Piero Cingari, forex and commodity analyst at Capital.com
CAPITALCOM:COPPER
by Capitalcom
CopperWe hit a weekly SD zone in copper. But was it enough? I'd gladly see gold come down to the 1600. Gold (H12) is also at a resistance zone with divergence, could we get one more push down in metals? And one more push down in stocks and cryptos and DXY up? One other thing that supports gold 1600 and copper also going one more leg is the speed and strength it came down with. For the North trade, I'd like us to show weakness southwards and strength northwards into one of the SD zones
FX:COPPER
by speedracer1234
Copper Daily : Elliott wave analysis, potential target rangeIf copper price action respects my Elliott wave count in daily timeframe, expect the 5th wave to start sometime sooner. Please refer to my previous analysis of copper in 60 min time frame. Looking at Elliott wave counts, wave#3 was greater than wave#1, so I am expecting wave#5 to be at least equal to wave#1 (see the vertical yellow bars), based on this assumption the target range for wave#5 is : 2.96 to 3.02 I am using two technical indicators 1) Monthly and Weekly Pivot Points and 2) Fib extension, on top of Elliott wave counts to decide when to get in a short trade and when to get out.
FX:COPPERShort
by spranav
COPPER - Support HeldI have been watching the Copper price closely as it has a direct effect on JSE:AGL I mentioned the 3.18 zone would be key to hold and so far price has reacted at the zone and bounced back to the 20 day moving average . Consequently has also found support and moved back to the 20 day moving average. I will be watching closely to see if a constructive pattern forms for a decent chance for a continued reversal setup -- MANAGE YOUR RISK - - Disclaimer: All ideas are my opinion and should not be taken as financial advice.
CAPITALCOM:COPPER
by Trader-Dan
How To Go Short Copper (HG)Hi Traders, This post takes a look at how we can go short on copper. There is a very simple setup to take if price does what I expect it to do. On the daily time frame, Price has managed to give a deeper rejection than I had anticipated in my last copper post, You will see that we are currently rejecting a resistance level on the daily, If you wanted to, you could add fib tool in order to add more confluence. We also have confirmed lower lows and lower highs and I would like to see the current structure price shorting opportunities to go with the overall trend. On my trading time frame, Price is now facing a minor support level at 3.3800 which could give a short-lived rejection. I would then like to see the break below the level and retest so we can start looking for shorts. Because I am anticipation a new low on the commodity I will be holding my position all the way to 1.3100. The basic break and retest setup is what I will be waiting for on this one. Looking at the flip side, the current near-term trend is still bullish and It could break the resistance shifting structure all the way bullish. Remember the smaller time frames eventually build into the higher timeframes. I will only be interested in buying above 3.4470. be sure to keep an eye out on this one. Untill the next post. Renaldo Philander.
CAPITALCOM:COPPERShort
by Tradebudz