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Copper Cathode Futures

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CU1! trade ideas

Elliott Wave View: Copper (HG) Looks to Extend HigherShort Term view in Copper suggests the rally from September 21 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from September 21 low, wave ((i)) ended at 4.3175 and pullback in wave ((ii)) ended at 4.0545. The metal then extends higher in wave ((iii)) as another 5 waves in lesser degree. Up from wave ((ii)), wave (i) ended at 4.3955 and pullback in wave (ii) ended at 4.3050. The metal extends higher in wave (iii) towards 4.781, wave (iv) ended at 4.7025, and wave (v) of ((iii)) ended at 4.823. Pullback in wave ((iv)) is proposed complete at 4.537 as a double three structure. However, the metal still needs to break above wave ((iii)) at 4.823 to rule out a double correction. Down from wave ((iii)), wave (w) ended at 4.5935, wave (x) ended at 4.7575, and wave (y) ended at 4.5370. This completed wave ((iv)) in higher degree. Up from there, the metal should end wave (i) of ((v)) soon with 1 more push higher. It should then pullback in wave (ii) before the rally resumes. Near term, while pullback stays above 4.537, and more importantly above 4.309, expect the metal to extend higher within wave ((v)).
COMEX:HG1!
by Elliottwave-Forecast
Short CopperThe Global Economy is slowing down. China is slowing, DXY is spiking, and the case for base metals is starting to wane. Looking at things like NG1! and Copper, things are starting to look like blow off tops. I am slowly building a large longer term Copper short position that I can scale into - TP will me the weekly 50 SMA. I have found the most rewarding types of trades are the one where things are way off side confirmed by Linear Regression, SMAs, and Bollinger Bands. When you have math giving you a statistical edge, that is something that you can lean into IMO.
COMEX:HG1!Short
by Baero-Trading
Copper - Just the BeginningCopper futures broke out of their wedge this week, with per tonne prices breaking the $10,000 milestone. Names such as Freeport-McMoran (FCX) are benefitting from this, while TRQ is on discount due to. setback in their mining process. Despite Fed tapering, copper is strong, surprisingly. I believe that now is the time to get in "The New Oil", as stated by Goldman Sachs, who gives the commodity a 50% upside before 2025. If copper moving 10% has resulted in Freeport going from $30 to $39, think of what will happen if Goldman and the rest of the Street is right... Thesis: Goldman Sachs recently published a note declaring copper "the new oil," and forecasting it could reach $15,000 (50% inc.) by 2025 as the world transitions to clean energy. As the movement to sustainability/clean energy progresses, the exponential increase in demand for copper will outrun supply due to slow mine creation, centralized property rights. Although it may take a few years and experience some drawdown, depleted inventories and a demand spike will likely cause the price to rise significantly over the next decade, with Bank of America suggesting a possible 100% increase to $20,000 per metric ton by 2025. Overall sentiment on the Street is extremely bullish in the mid-to-long-term.
COMEX:HG1!Long
by nickygin
Copper Prices Take Aim for May 2021 High Post Triangle BreakoutCopper futures are aiming for the May high at 812.60 after prices confirmed a breakout above a Descending Triangle chart formation. The 200-day Simple Moving Average helped maintain the dominant uptrend as the red metal continues to consolidate since earlier this year. A drop back under the July high at 768.50 could undermine upside progress, reorienting copper back towards the SMA. Clearing the May high exposes the 78.6% Fibonacci extension at 851.8636 towards the 100% level at 900.60. COMEX:HG1!
MCX:COPPER1!
by QM_Dubrovsky
𝘾𝙤𝙥𝙥𝙚𝙧 𝙁𝙪𝙩𝙪𝙧𝙚𝙨 (𝙃𝙂1!) — 𝙀𝙒𝘼HG1!: 🕐 6h A big review of this asset is planned for the first half of next year, but decided to make a small update to the count, as the current sideways formation looks very much like a bullish contracting triangle that is about to be completed. On completion of the final wave E of (B) , there will be a good trading setup for a long position. The wave marking in the double circle parenthesis corresponds to the green marking in the circle on the chart.
COMEX:HG1!Long
by TradeWaves-EWA
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