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Copper

COPPER - DUE FOR A MAJOR CORRECTION?Looks like copper finally reached the top of the 5 wave impulse. We also saw an extended 5th subwave as the very last wave in the 5th wave which is typical in the commodity market. Also RSI didn't create a divergence but that is because of the extended 5th wave. We should see copper come down atleast 25-30% of it's value as a correction from the huge run it made that started early 2020. This isn't a "crash", this is just a healthy pullback before the next wave up in the future. I'm not planning on shorting it, but I did take profits on my long positions. I will look to re enter when it is done correcting.
COMEX:HG1!Short
by CathartesCapital
Copper is approaching support, potential bounce We maintain a bullish view on Copper. Currently, copper prices are testing our first support, in line with our 61.8% fibonacci retracement, graphical support area and 100% fibonacci extension where we could see a bounce above this level to our first resistance target. A break above our upside confirmation level could provide the bullish acceleration to our first resistance target. Ichimoku cloud is showing signs of bullish pressure as well, in line with our bullish bias.
OANDA:XCUUSDLong
by Tickmill
1
COPPER (XCU/USD) – Week 11 – Will the resistance hold?Copper moved slow last week and at the moment is in a middle of a consolidation pattern. In the coming days, we expect the price to continue its lazy movement towards the resistance area highlighted on the chart. In our opinion, the chances for a new drop will increase from that point, which may push the price around the liquidity pool located around the 3.80 area. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
OANDA:XCUUSDShort
by financialflagship
23
Copper prices are approaching support, potential bounce Copper prices are approaching our first support, in line with our 61.8% fibonacci retracement, graphical support area and 100% fibonacci extension where we could see a bounce above this level to our first resistance target. A break above our upside confirmation level could provide the bullish acceleration to our first resistance target. Ichimoku cloud is showing signs of bullish pressure as well, in line with our bullish bias.
OANDA:XCUUSDLong
by Tickmill
3
Perfect Diamond Long on $FCX into AprilGet on board this most excellent trade with copper and stock seasonality on your side! FCX has has a great run this year with copper from the bottom rising 400%. This is a great and possibly final leg to get into for awhile that is perfectly balanced inside Camarilla pivots, which I would consider myself an expert in using. Copper 16YR seasonality nearing a bottom ahead of the FOMC FCX is in agreement with a bottom near this area
NYSE:FCXLong
by mortdiggiddy
21
E2M - ASX Gold/CopperRule of thumb is gaps get generally get filled, looking to take some profits off the table at the yellow trend line then ride the rest. RSI poised for a break out with Bullish divergence. I believe commodities are pretty close to breaking out and i don't mind this for a near term trade, there is still a chance for more downside action but long term PMs will rise significantly. E2M has more drill results inbound so hopefully they can produce some numbers to help along the trade. (Not financial advice- DYOR )
ELong
by DylanWikki
COPPER (XCU/USD) – Week 10 – Is the pullback over?Copper respected our previous analysis and erased 2 weeks of gains reaching the liquidity pool that is highlighted on the chart. From there the price found some support and it looks like it’s gaining some bullish momentum. Still early days, but we are expecting the price to increase and head towards the resistance level that we highlighted on the chart. Don’t forget that at this point we strongly need a bigger corrective structure to develop, so the bullish trend could be short-lived. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
OANDA:XCUUSDShort
by financialflagship
28
COPPER (XCU/USD) – Week 9 – Anticipating a bearish pullback.The copper market edged to new highs at the beginning of last week, with the price almost reaching $4.40 level before starting an aggressive bearish impulse. It seems that the consolidation that we were talking about in our previous analysis started, as we expect more bearish momentum for this week. If we break the trendline and consolidate underneath, there is a big chance that we will hit the liquidity pool area highlighted on our chart. Trade with care. Best regards, Financial Flagship Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
OANDA:XCUUSDShort
by financialflagship
16
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.
COMEX:HGK2021
by commoditybulletin