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Copper

Joe Gun2Head Trade - Copper at a key levelTrade Idea: Buying Copper Reasoning: Copper oversold and trading at a key 50% Fibonacci retracement level Entry Level: 3.5079 Take Profit Level: 3.6428 Stop Loss: 3.4763 Risk/Reward: 4.04:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
OANDA:XCUUSDLong
by Signal_Centre
The AUD getting smoked - a change in the market is happeningI think we’re seeing a turning point in the economic cycle and markets are moving to reposition for this – one where we’ve been myopically focused on inflation, to the next phase, a pure global growth focus, with inflation subsequently falling back to 4-5% range. We’re all scrambling to price recession risk and how protracted it will be and whether the result will be a lift in layoffs as consumption is hammered..here in Oz housing is the major unknown and is central to financial system and that is showing some worrying signs. Central banks were far too late to lift rates (stop QE), will they now be too late to react to the economic change as well?? The fact we’re pricing more and more rate CUTS for 2023 (certainly in the US and UK) suggests it can’t be too far from a major turn from central banks – So, I think we get another 150bp of hikes (from the Fed) and other banks, but by late September that the Fed and others will be forced by the markets to make a shift to firmly ease up and start to more actively support growth. It becomes more and more political in the US given the Nov Mid-terms. It means the AUD and NZD are our default plays in FX…it means copper and crude are front and centre in commodities and it means energy, materials and cyclical plays will remain underperformers vs utilities and staples…it means we likely trade to 3200, maybe 3000 (at a push) in the US500 and crypto is going to $12-10k range…. We’re already seeing market pricing of future inflation cratering and that won't have gone unnoticed by the Fed… the question is will they get it wrong again, and could something in the financial system break along the way….we shall see, but the base case is the Sept FOMC meeting will herald a shift from the Fed that could create a monster rally in gold, crypto, growth equities into year-end – this will then be compounded by active funds chasing performance…cash is king till then, so save your pennies or learn how to short…markets are never dull but they force you to be open-minded.
Short
by Pepperstone
1
Dr Copper is telling us deflation is comingAt the beginning of June I put out an idea about shorting Copper . The market didn't do me the favor to get up to my entry, as I ignored past resistance. Probably got a little greedy too. Currently copper is sitting at support and could bounce up to 4$, maybe even up to 4.25$. However in the long term, I see it go much much lower. In my opinion we are in a global recession, and probably even in a global depression. As interest rates and energy costs have risen rapidly, the demand for many things has gone down. We haven't seen the full effects of too much debt + lockdowns + WW3 + not enough energy production yet, but we are getting there. Copper going down is just the first step, and this could turn really really ugly. The 2006-2008 top on Copper looks pretty similar to this one. Huge rally up, consolidation, attempt to breakout, failure, massive collapse. This time around we had a shorter cycle due to the lockdowns + stimulus + low rates + ESG , but this situation is truly reversing. We have no lockdowns, no stimulus, high rates and the ESG movement is clearly losing steam. Overall volume is low and that's a sign that demand for Copper isn't all that high. It was mostly supply being low, and not demand being high. So how low could we go? The truth is that for some time this could be a bottomless pit. However, I believe the bottom will come in the 1.5-1.9 area, as the market needs to sweep the double bottom at 1.9. In terms of technical analysis this is the area anyone should be targeting. Once we get there, we could see a swift reversal as the Fed and all central banks are forced to cut rates and print money once again, in order to save the system from collapsing. They are stuck between a rock and hard place, and although they are doing their best to fight inflation now, they will soon be trying to fight deflation.
COMEX:HG1!
by BitcoinMacro
LONG ON COPPER - Will This Chart Save us From Recession Worries?It probably won't but a relief rally could be in play. Watch Our Bronze Age Bitcoin Video today: The Bronze Age followed the Stone Age and began around 4000 years ago. The Iron Age followed the Bronze Age and began around 3000 years ago. That's some time ago, yes. Could Bitcoin play a role as the beginning of a 'new age'? Sure.. it's a trustless system in a stupid planet with no trust between it's 'nations'. Funnily enough, I come from the island of Cyprus. 🏖️🌴🐬 Cyprus was famous in antiquity for its copper resources. In fact the very word copper is derived from the Greek name for the island, Kupros. Watch this if you like history: www.youtube.com Copper Price as an indication of what happens next: The price of copper is largely influenced by the health of the global economy. This is due to its widespread applications in all sectors of the economy, such as power generation and transmission, construction, factory equipment and electronics. Sometimes referred to as Doctor Copper , the base metal is seen as a reliable leading indicator. A rising market price suggests strong economic health, while a decline suggests the opposite. So we keep having many Copper related articles lately: Copper has entered a bear market , which may indicate a stronger chance that recession is coming. OUR ANALYSIS: We had shared with YOU, HERE a perfect short on Copper last summer: COPPER- Poised for a Correction At this stage we see Copper on MAJOR SUPPORT and this is only Good news: snapshot Hope it all makes some sense. If you Like the idea, we Like to see you Liking our post. One Love, the FXPROFESSOR
COMEX:HG1!Long
by FX_Professor
4
Bitcoin Today: Let's Talk about 'BRONZE AGE'The Bronze Age followed the Stone Age and began around 4000 years ago. The Iron Age followed the Bronze Age and began around 3000 years ago. That's some time ago, yes. Could Bitcoin play a role as the beginning of a 'new age'? Sure.. it's a trustless system in a stupid planet with no trust between it's 'nations'. Funnily enough, I come from the island of Cyprus. 🏖️🌴🐬 Cyprus was famous in antiquity for its copper resources. In fact the very word copper is derived from the Greek name for the island, Kupros. Watch this if you like history: www.youtube.com Copper Price as an indication of what happens next: The price of copper is largely influenced by the health of the global economy. This is due to its widespread applications in all sectors of the economy, such as power generation and transmission, construction, factory equipment and electronics. Sometimes referred to as Doctor Copper, the base metal is seen as a reliable leading indicator. A rising market price suggests strong economic health, while a decline suggests the opposite. So we keep having many Copper related articles lately: Copper has entered a bear market, which may indicate a stronger chance that recession is coming. OUR ANALYSIS: We had shared with YOU, HERE a perfect short on Copper last summer: At this stage we see Copper on MAJOR SUPPORT and this is only Good news: Hope it all makes some sense. If you Like the idea, we Like to see you Liking our post. One Love, the FXPROFESSOR
Long
by FX_Professor
5
Copper looks weak! Copper’s ability to predict turning points in economic cycles and gauge the overall health of the global economy is so strong that the base metal has earned the nickname “Dr. Copper” among insiders in the commodities markets. Falling copper prices are often viewed as a leading indicator of an impending economic downturn owing to the metals’ wide variety of use cases in electrical, industrial, and transportation applications. And over the past few months, “Dr. Copper” has been sounding the alarm loud and clear. Copper futures on the benchmark London Metal Exchange have fallen from highs of $10,730 per tonne in March to just $8,575 as of Thursday’s close, a more than 20% drop, which officially puts the metal into a bear market. Using Nasdaq’s measure of copper prices, the metal has fallen over 17% in just two weeks and is now trading at just $3.74 per pound, after hitting a high in March of over $4.94.
COMEX:HG1!Short
by UnknownUnicorn38289576
Copper is in a death cross: $3.5 is the next crucial supportThis week, copper plummeted to fresh 52-week lows, breaking below the $4 per pound support level held since April 2021. Prices have now reached oversold territory as the 14-day RSI went below 30 this week, and is currently trading at 22, reflecting the brown metal’s severe sell-off. Moving averages have also created a so-called death-cross pattern, with the 50-day crossing the 200-day, possibly indicating a shift from a bull to a bear market. Copper sales have surged as recession concerns grew significantly, especially in the United States. Inflationary pressures in many nations of world are much harder to control than expected, and they are also widespread in goods and services not directly connected to energy prices, requiring higher interest rates that would inevitably slow economic activity. Copper , being one of the most sensitive commodities to the economic cycle, suffers substantially during phases of slowdown in the US ISM Manufacturing index , as we explained in this analysis . Copper prices are presently testing the $3.7 resistance level established in January ’21 and are down 27% from their March ‘22 highs. Below this level, the $3.5 pound support in December 2020 and January 2021 could be tested. This is a crucial threshold for the Fibonacci retracement analysis since a fall below the 50% level would boost bearish' convictions and confirm the presence of a copper's bear market.
CAPITALCOM:COPPER
by Capitalcom
COPPER High probability for a reboundCOPPER (HG1!) has been trading within a Channel Down ever since the March 07 High caused of the Russia - Ukraine war escalation. Right now the price isn't just approaching the Channel's Lower Lows trend-line (bottom) but also the March 04 2021 Low of 3.8500. With the RSI dropping below the oversold 30.00 barrier on the 1D time-frame and making a Double Bottom. the market may soon reverse towards the Channel's top again. The last time we saw all these parameters aligned in the same order was during the May - August 2021 Channel Down, where the price after the RSI Double Bottom on the 30.00 mark, it rebounded above the 0.618 Fibonacci to the top (Lower Highs trend-line) of the Channel. Our strategy is to initially settle for a short-term target just below the 0.618 Fib extension at 4.3000 and then re-evaluate as a break above the 1D MA200 (orange trend-line) is most likely needed in order to reverse the trend completely. If on the other hand 3.8100 breaks, we expect a sharp sell-off towards the 3.4500 Low of December 10 2020, where the price can also make contact with the 1W MA200 (red trend-line). -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
COMEX:HG1!Long
by TradingShot
2
Copper Futures setting up for a potential long tradeCopper / HG Futures market may be setting up for a move back to the upside. After a huge expanding bullish candle in the beginning of June that saw price blast through the volume Point of Control (POC) which goes back to October last year the price then immediately reversed and we have seen a sell off for the majority of this month. However yesterday we saw a spinning top candle form at a critical point which had been a support level, this has also painted bullish divergence on the RSI indicator. Further to the above technical analysis we have also seen net buying activity from commercial operators which indicates a slight under supply : demand imbalance. On many occasions large commercial buying can lead to a price hike as supply squeeze takes hold. Lastly commodity seasonal reports also show that copper does have a tendency to sell off in the beginning of June but then turns around at the end June and price upwards again through until end of July before dipping again coming into August. I would like to see price close above yesterdays close and hold above ~$4.05 which is roughly a support zone. Ideal entries could be above yesterdays high with price targets at ~$4.25 and / or ~$4.40, which are both just below previous support and resistance levels and large volume clusters. However if price cannot break above and hold $4.05 and instead falls and closes under $4.00 then I would not be looking at any long trades.
COMEX:HG1!Long
by gary_trades