Copper Futures COMEX:​HG1!

 
     
 
     
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HG1! Commodities Futures Chart

Technical Analysis Summary

HG1!

Copper is an essential industrial metal used worldwide. Copper prices are followed in financial markets around the globe and the metal is growing in popularity. Copper is widely used in construction and because of its electrical properties is found in wires and circuit boards. Copper is mined in open mines around the world, with Chile and the United States leading in overall copper production. The demand for copper is increasing as countries such as China and India continue to develop, while the supply remains tight. The growing demand and constrained supply is likely to keep copper prices volatile in the near future. Copper prices are commonly quoted in USD.

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News

JOHNCONEL JOHNCONEL HG1!, 1D, Long ,
HG1!: Looks like the bulls are about to take charge
21 0 0
HG1!, 1D Long
Looks like the bulls are about to take charge

The year of the dog, with Chinese New Year behind us, a weaker doller, we could be own our way to a nice up tick, all we need is a bit of inflation noise. Without the noise we should reach 3.4 -3.5, with the noise 3.7-3.8 but expect a roller coaster ride shorting 1.5+ moves with one eye on the doller for profit taking.

THESTOPHUNTER THESTOPHUNTER HG1!, D, Long ,
HG1!: More upside for Copper (HG) in 2018??
24 0 0
HG1!, D Long
More upside for Copper (HG) in 2018??

#Copper (HG) putting in a good year end performance. Price up +60% from Feb'16 lows. Good fundamentals for more upside into 2018? #LME 7000 level will be a tester (approx 3.18 HG)?! Resistance 3.27 then 3.58?? Support 2.96? #Renko

THESTOPHUNTER THESTOPHUNTER HG1!, D, Long ,
HG1!: Copper on the turn? Or heading further into the doldrums?
14 0 1
HG1!, D Long
Copper on the turn? Or heading further into the doldrums?

#Copper (HG) on the turn? (+0.71% this morning) Or will it find resistance around the 61.8% Fibonacci at 2.8130? Hitting a lot of price noise at current levels 2.9845 (approx mid 6500's in #LME world). Good fundamentals / relative value upside play?

JOHNCONEL JOHNCONEL HG1!, D, Long ,
HG1!: Will Copper stay in a range till March 18
25 0 1
HG1!, D Long
Will Copper stay in a range till March 18

I am of the view that one should short the 3 week highs and buy the 2week lows as ridiculous as that might sound, I think we are to remain in a range of 2.96 to 3.34. Long team view Stay Long Short team view Short any 2.5% move high.

THESTOPHUNTER THESTOPHUNTER HG1!, D, Long ,
HG1!: Copper back to $10000?
17 0 2
HG1!, D Long
Copper back to $10000?

#LME #Copper at $10000? May take some time getting there!? A lot of noise in between! Fundamentals are starting to fall back in place once more though. Got to crack the 7000 barrier 1st (approx 3.1/3.2 on #HG). Nice longer term pattern forming on #Renko ? Cur trading 3.075

THESTOPHUNTER THESTOPHUNTER HG1!, 15, Long ,
HG1!: Copper back on the way up??
15 0 3
HG1!, 15 Long
Copper back on the way up??

#Copper #HG on the up this morning on stronger momentum . A turning point (2.9135 Fib 61.8 zone) after recent sell off? Support 2.9135 Fib, then 2.8305? Cur trading 2.9804

AntMwah AntMwah HG1!, W,
HG1!: Breakout
26 0 1
HG1!, W
Breakout

This has broken from its triangle consolidation and is now heading up towards the horizontal resistance at $2.73 which is where it's failed previously.

AntMwah AntMwah HG1!, W,
HG1!: One for your watchlist
16 0 1
HG1!, W
One for your watchlist

Keep an eye on the 50 week moving average. The big moves in the recent past have occured when the price and that indicator intersect. In this case the 50MA is rising into the price which is holding its high line within the pennant. Once it catches up my odds would be on a move up and out.

arklop1 arklop1 HG1!, 15, Short ,
HG1!: hg1!
10 0 1
HG1!, 15 Short
hg1!

got stopped out at my previous buy, strength was to the down side. i dont see much stopping this from falling now.

arklop1 arklop1 HG1!, 15, Long ,
HG1!: copper hg1!
18 0 3
HG1!, 15 Long
copper hg1!

good short term buy

THESTOPHUNTER THESTOPHUNTER HG1!, D, Short ,
HG1!: Copper (HG) looking weaker in the short term?
16 0 1
HG1!, D Short
Copper (HG) looking weaker in the short term?

Fundamentals around Copper, Steel rebar, Iron ore, Coal not looking so rosy currently. Technically Copper HG looking weak. Dec'16 lows could be next resistance at 2.4785 (Approx LME 5500), a further significant break here could see 38.2% Fib area tested (2.3425) then Nov lows of 2.09. Support may be found at 2.5935.

AntMwah AntMwah HG1!, D, Short ,
HG1!: Copper - Wedge Breakout Lower
25 0 1
HG1!, D Short
Copper - Wedge Breakout Lower

This hasn't had a decent pullback since the initial "trump" rally. There has been a significant consolidation and a number of rejected moves higher. It now looks like it's broken the wedge downward. Time to short maybe.

AlbionTrader AlbionTrader HG1!, D, Long ,
HG1!: COPPER HG1! on a Continuation Pattern
51 0 2
HG1!, D Long
COPPER HG1! on a Continuation Pattern

COPPER HG HG1 HG1! respected the Trendlines highlighted in the previous posts; on the 4-hour chart it followed the Simple Moving Average ribbon as well. A triangle formation is being reached now. Could be a Continuation Pattern upwards.

AlbionTrader AlbionTrader HG1!, D, Long ,
HG1!: HG1 HG Copper fake or break?
18 0 2
HG1!, D Long
HG1 HG Copper fake or break?

COPPER HG HG1 Like last week, just more confusing Gann fan forming maybe? Price might Fakeout and bounce again. #Patience and wait for a sign. If I had to bet now I would say Long but - again - let's wait for a clearer view.

AntMwah AntMwah HG1!, D, Short ,
HG1!: Copper symmetrical triangle
25 0 3
HG1!, D Short
Copper symmetrical triangle

Should revisit the triangle bottom next.

AlbionTrader AlbionTrader HG1!, D,
HG1!: COPPER HG1! deciding between Bulls and Bears
10 0 2
HG1!, D
COPPER HG1! deciding between Bulls and Bears

Copper HG1! has been trading in a channel lately, and in a couple of trades we profited by the bounce on the descending trendline (magenta in the chart). Indicators look still quite bearish while the triangle pattern might suggest a continuation pattern high as I think it will go this direction but let's wait for confirmation. Be ready for action!

AntMwah AntMwah HG1!, D, Long ,
HG1!: Copper exaggerated drop / bear trap.
29 0 4
HG1!, D Long
Copper exaggerated drop / bear trap.

This looks like a false drop below the breakout area from last week. Bounced well off 20MA. Looking for big move back up here.

AntMwah AntMwah HG1!, D, Long ,
HG1!: Copper. Breakout Backtested
39 1 3
HG1!, D Long
Copper. Breakout Backtested

Looks like the recent breakout above the horizontal (and 200MA on the weekly) has now succesfully backtested leaving the oath clear for a bigger move up.

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