XCUUSD might hit USD4.00 soonThis trend line could be broken very soon and the move to previous YPP resistance will be very swift.
CA1! trade ideas
Copper Rises to Resistance as Supply-Side Issues Heat UpCopper prices are seeing some upside movement as supply-side issues intensify. Codelco's Andina mine in Chile saw workers go on strike after mediation talks fell through. This adds to labor tensions in the major copper-exporting country, with workers at BHP Group's Escondida mine still negotiating a new contract as a possible walk-off looms. Meanwhile, workers at a JX Nippon Mining & Metals owned mine, also in Chile, went on strike this week.
Prices are now at a descending trendline formed off the July swing high after rising off the 61.8% Fibonacci retracement. Moreover, the 50-day Simple Moving Average (SMA) looks to be providing a degree of confluent resistance. Breaking above the trendline may open the door for an extension higher.
$FCX - Inflation hedge + Infrastructure play w/ technicalsLots of investors typically look to precious metals such as Gold, Silver, Platinum or Nickel when hedging their portfolios to protect against inflation (unless you're Peter Schiff, then you're all in.) Some analysts believe Copper has more upside than its counterparts.
Outside of just existing, it does have many uses and is commonly used in construction. From houses to communication wires to electronics. Copper is everywhere. It's not too farfetched that with the infrastructure bill going through, that demand for this precious metal will increase. As it stands now we're already in a Copper shortage, the last few years has proven that the current supply can not keep up with demand.
From a technical perspective, FCX on the Daily time frame is nearing the breakout point of an inverse head and shoulders.
HG1!, Copper Futures, is in a bullish pennant. It formed a pinbar off of the golden pocket and held the support of the pennant.
Both of these, technically speaking, are set up to breakout. CPI numbers came in as expected today but often times charts and real life events line up so we will see how the next report does.
Currently in $FCX calls for January.
Warwick
OptionsSwing Analyst
Copper Futures : H1 Short (Price Action : LH + LL)Downtrend continues in Copper, there is no sign of Higher High or Higher Low yet. It seems the copper futures chart is behaving very well making enw LLs and LHs and respects previous resistance.
New trading Strategy upgrade - CopperHi traders, this is my personal trading idea only. Please give an AGREE/ LIKE, my trading strategy is Price Auction - Chart only, I don't use indicators, MA, signals and trend line etc. Your comments are highly welcome. We need a relax and happy trading with happy ending on each trade. My chaos drawing is not to predict and guess the further, it is my plan where we are on the chart and how we shall trade on what we see. Good luck guys.
Sell at M15-M15 and buy on H1 chart
Copper Daily Futures PredictionShort Term Breakout on daily Copper Futures charts. Copper is trending from March 2020
COPPER trade idea.Analysis: Copper is in a strong uptrend, but we had 2 cases when the price rose stronger than expected. I market the 2 expansions with the green zones. I do not say that the bullrun is over, but I wont recommend to trade with large positions since the current market structure is neutral. The current potential risk reward ratios on short and long positions are quite bad. Right now it's too late to buy and too late to sell as well. I am waiting for a much clear picture before I will open a new trade.
Conclusion: Neutral
COPPER Copper has completed a Gartley harmonic, and we could see a move up to the designated target zone.
Copper Strong ... bullish trend continues You might want to consider holding copper stocks now ... it is resuming its uptrend after a a month of consolidation in June/july.
Good US stocks are
FCX
SCCO
TRQ Small Cap Copper, Copper on the cusp of a New All Time HighThe electrification of America and the world is going to require huge amounts of copper. New all-time highs should be expected.
Copper resources are likely going to become highly valued throughout this decade as more and more copper is needed to overhaul the energy and infrastructure grid.
Copper Technical AnalysisChina credit impulsed bottomed recently, in 6-9 months we see the effects in the economy. Therefore, the wave 5 might be a bit choppy from now, but the longer term picture is up up up!!!
JICPT| Copper pending breakout the sideway upper boundary!Hello everyone. Copper is on the top of my watching list due to its widely usage in the world. In my opinion, it serves as the leading indicator of the economy to help us catch nice investor opportunities in the market. e.g. thematic funds.
To make the long story short, let's look at the daily chart:
1. The long-term MA did prevent the price from further going down. In addition, the short and mid-term MA failed to crossover the long-term one, indication momentum to the upside.
2. It has been sideways for a while with the key level 4.4080 to be taken out. The level is also the upper boundary.
3. The likelihood of going up is high, however, I don't know if it directly penetrate the key level(4.4080), or seek support from the bottom level. I guess nobody knows. Considering the date of today, normally Friday is a bit quiet. So, we're very likely to know the result next week.
Two possible setups:
Breakout and pullback trade: with impulsive breakout, I plan to long at the pullback. This is momentum play.
Pullback and bounce back trade: Price falls to the bottom of the sideway structure(4.1340), I plan to long at the bottom. This is a sideway setup.
Hopefully, it helps. Enjoy the weekend.
Copper// Where to buy next (update)Mistakenly only had 1 entry, so I had to close to take some profit.
Now, ill be looking for another area to re-enter and probably add multiple positions.
As of right now, the first area of interest is the 38% zone, however Ill be exercising some patience as I think we may see price itch lower than this support.
Previous Analysis linked.
copper 100% chart analisys, not backed by any fundamental.
if could explain some fundamental to back or dicart the idea it would be apreciated.
thanks
Copper overbought predictionIt looks like it rocketed 4% yet despite the momentum it has now got rejected off of a multi month fib . I think it will consolidate until close, and then breakout again
Copper Prices giving a heads up... Earlier, I posted about the S&P500 defying gravity.
Another indication to support that view is here... COPPER.
It is well known for copper futures to lead/follow (takes turns) the equity markets. The reasons behind this phenomena is very fundamental, copper is used in production of many things, and in an economic upcycle, copper is one of the first metals required, in many forms from wires, to electronic parts.
So, superimposed is the SPX on /HG copper futures. You can see the love/hate correlation. It is just astounding.
Copper technicals are similar to that of 9 April 2020, as it bounces off the Gann fan support, breaks out over the trend line resistance... it appears bullish, even suggesting that it is looking for the last high.
So what might this mean for the S&P500?
