Hi there. Price is forming a continuation pattern to the downside. Watch strong price action at the current price for sell.
Here we are witnessing Copper breaking out on the daily TF... this technical break is exposing the initial resistance at 2.700x followed then by the 2.75xx trend-line. From a strictly waves perspective we were tracking the 'C' leg in the ABC sequence: This is starting to look like a bottoming process, although the ultimate breakout is still yet to come it...
A good time to review the Copper chart, with a clearly cautious market and hesitant to break the lows before Fed. I am looking for a daily close below the lows to trigger a cascade of stops and resolve the pending ABC completion. For the targets 2.45316 and 2.23342 are in play as long as the downtrend remains intact. From a waves perspective we remain in...
Because of copper's widespread applications in most sectors of the economy — from homes and factories to electronics and power generation and transmission — demand for copper is often viewed as a reliable leading indicator of economic health. CPER ETF seeks the daily changes in percentage terms of its shares’ per share net asset value (“NAV”) to reflect the...
Daily Chart Explanation: - Price is against a Weekly Support Zone. - Price is under a Descending Trendline. - Bullish Divergence on MACD. - If price breaks the Descending Trendline at 2.68, potential to move up towards the Resistance Zone at 2.96 and, then, to the Weekly Resistance Zone at 3.2. Our Weekly Vision supports this potential long idea. Take a look!...
Hi there. Price is moving impulsively to the downside. Wait for the price to complete the continuation pattern that its forming and watch strong price action action for sell.
Copper looks to be setting up for a very interesting leg cooking here, completely dislocated from others metals. The sell-off looks corrective in nature inside a much larger impulsive move (outside of the scope in this conversation...we'll save that for later). Watch for signs of a turn around current levels (2.7454 - 38.2% retrace). The target for this final...
4H Vision Explanation: - Price broke the Descending Trendline and started an up move. - It has potential to go up towards the Major Resistance Zone at 2,96767, being careful with the Middle Support Zones. - However, the Bearish Divergence on MACD could be anticipating a Pullback to the broken Resistance Zone that is now a Support Zone. We are also long in our...
Here we are tracking a base forming in Copper ahead of July Fed. A good time to update the chart, for those following the previous Copper short chart (see attached: "Copper next to lose its shine... Strong Dollar prevails") the offer is naturally expiring with the pivot in Dollar flows. The invalidation for this setup comes with a daily close below the 2.528...
OANDA:XCUUSD Feeling a short opportunity for XCU this week. Currently we have ended last week below the ascending trendline and broke out of consolidative wedge forcing us to go below. I will stick pending orders just below the trendline that has broken in anticipation for a retest of that break to then go back down. I have set 3 take profit target levels for...
Those who have been following the Portfolio we are building on Tradingview will know where we are in the current Gold move (see attached ideas as we are not going to cover this here). The upside in Dollar is here till Summer meaning we have a sharp leg to the downside in play for Copper. Gold has already moved first, and here expecting copper to start moving as...
Hi there. Price is forming a continuation pattern to the downside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
When you see copper goes you should see major moves in the stock market as well. After hearing Harry Dent speaking about the Dark Window, which occurs every 90 years, I’m starting to look at things in a little different way. Instead of a market crash we could see commodities and stock market rallying to all time high and the dollar weakening, hence gold rising as...
Hi there. Price is still in the continuation pattern to go up. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
This is the spot XCU can go up from. If it breaks the last low I might look at it differently. It would need to make a correction to confirm a sell as far as I can see from the pattern.
Copper (XCUUSD) is trading within a 1D Channel Down (Highs/Lows = -0.0144, B/BP = -0.0590) after having made a Double Top at 2.8400 (late Sep, early Oct). If the previous 2.6887 Lower Low and 1D support is crossed then HG1! should make a new 2.6600 Lower Low and attempt a break out. Otherwise the Channel Down will make a new Lower High near 2.7800 before it...
Copper looking good for Long entry on Weekly DZ area. 2.88 - 2.96