Copper Cathode Futures
CU1! trade ideas
June 2021 - Copper 05/03 - Rebounce Sharply1. Fundamental Analysis
- After Chile's announcement about rising copper output, Congo increased production of copper and cobalt.
- Besides, US Treasury yield climbed higher, it directly made US Dollar stronger than currency peer. Therefore, this triggered a wave of sell-off from equities to commodities by funds.
- However, news comes from China that they are targeting GDP growth (at over 6%) are quite impressive. In med tern i think Copper is still good.
But near-term, long liquidation remains in place.
2. Technical Analysis.
After forming the first wave down in daily timeframe (or three waves ABC in H1). I think, Copper will rebounce sharply with three waves up as i draw in my pic.
Of course, we ne to watch close when prices likely break the downtrend in H1 timeframe.
May 2021 Copper - Corrective PatternUpdated: Corrective Pattern.
1. Fundamental Analysis
- Lack of news comes from China, which represents physical demand.
- Waiting for news from non-china (i.e USA: readings from initial claims, unemployment rate...), which show the extent each country are recovering after pandemic.
2. Technical Analysis
- Daily: Copper remains corrective pattern in daily timeframe . And it moves as Wave A-B-C as paragraph.
- In H1: I predict that Wave B are forming, and it can reach to 4.24 - 4.30.
Keep in mind that: 4.24 is resistance zone .
June 2021 - Copper (03/03/2021)Fluctuating in wide range (4.04 - 4.37)
1. Fundamental Analysis
- Waiting for readings about U.S. factory orders, initial jobless claims and durable goods orders.
- Despite Caixin PMI services and indutries were not gud as expected. But, Lots of people remains optimistic.
- Sentiments about this market are seemingly improvement, even Chile annouced their production increased.
2. Technical Analysis
- Daily, Supporting level: 4.04.
- H4, price are fluctuating in a sideway. I expect that Copper need to accumulate, and then climb to former peak. (Around 4.30)
Copper Market Short-Mid termHi Folks! Keeping it simple, with trendlines on the daily there is a crucial moment for Cu prices. There was a beautiful trendline formed since the 4th of Feb, which created some vertical motion.
If looking on the daily timeframe the trendline is currently being tested, and although has been pierced, still holding. If it doesn't hold in the next few days, there is a loooong way down, due to lack of support.
But looking more closely on the 4 hour timeframe, we can see that the trendline held quite nicely, and that price rallied above the 50 EMA. Maybe copper isn't ready to roll over just yet? Or is it just a dead cat bounce? Next few days will tell, and the test of the 50 MA could act as the canary in the coal mine.
Happy trading!
🏛COPPER CORRECTION TO THE TREND LINE ↗️LONG🚀
☑️Copper is outperforming massively
With +119% growth from the recent lows
And The uptrend will continue in future
Therefore, I would be aiming to add copper to my portfolio
At a good price, thus, I will be looking at a long trade
From the area I identified on the chart!
LONG↗️
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June 2021 - CopperCopper - Correction Ahead
1. Fundamental Analysis
- US Housing Data was quite disappointing.
- Equity market decline & the fear of rising US interest rates.
- In addition, I think copper market is waiting for news which comes from US ( US government's plan for boosting produce electric vehicles) and China (confirmation about speculative buying and demand through readings of Shanghai copper warehouse stocks).
2. Technical Analysis
- This market seems overbought, and there's a sign that people are taking profit.
- Currently, i think copper contracts are moving in a range | sideway (4.08 - 4.37).
- Intraday, prices can climb higher and reach a zone (4.30 - 4.33). It could be a good opportunity for sell to probe the strength of the market)