Monthly is winding up for a big drop or huge jump.
Monthly:
Weekly:
Daily shows price winding up potentially the rest of the year. So I will look towards year end for the fireworks, that will decide if our pent up momentum will release upwards or downwards.
My gut says inflation will send it upward in the near future.
HG is on the 30 minute chart with a set of EMAs ( 7- blue 20-red and 100-black) ascended
6 % in 7 days from the morning of 4/23 to the evening of 4/29. This is traded with a leverage
of 25. A short trade taken on the reversal is now impending closure. The short falls faster than
the long climbs and will yield about another 6% in 24 hours or so. The trade is...
Technicals Suggesting a Correction to Support for Copper
The metals complex has been on fire; copper futures (COMEX) recently touched gloves with a fresh record high of $5.1990 per pound. This followed last week printing its largest one-week gain (+8.3%) since early February 2022.
You may also note that the metal shook hands with a 1.272% Fibonacci projection...
HG - copper demand is higher this year as the economy expands globally. On the 60 minute chart
price hit a high pivot on May 15th and pulled back in a standard Fib 0.5 fhsion. Price
has touched the upper boundary of that support three times and has now printed a wide range
green HA candle. I believe that this is a reversal pattern and will take a long trade...
I've been meaning to revisit NYSE:HG for a while now and finally have done so; there have been some very interesting visits to black swan territory on this chart and the short term targets after breaking out from another of those green channels could really be quite high (see 20y ago)
Some very notable calls in recent years:
SPREADEX:NIKKEI and TVC:DJI ...
Copper futures surged to 864, but signs of exhaustion hint at a possible pullback.
Key points:
Trend: Bullish momentum is strong but showing signs of fatigue.
Support/Resistance: 830 is solid support; 864, a stubborn resistance.
Indicators: RSI suggests overbought conditions; watch moving averages.
Volume: Declining volume hints at weakening bullish...
Like many commodities, Copper had an extended 5th leg with a blow-off top with very strong momentum before dumping to correct the rally from Feb lows. Coincides with TVC:DXY which needs more upside.
Copper break major TL. Going lower folks. Productivity and growth slowing=RECESSSION. Future orders DOWN. Give me a break Powell, you know what a soft landing is? Its misery slowing the economy too slowly. Its recession for longer and deeper than you intend, because you lacked the Kahunas to do it painfully. Rather than just rip the bandage off, you are...
Copper, and doctor copper, usually tells the story. Its the pulse of the economy. This Trend line event is everything. Bounce or break... I think you can say the same for the fake economic numbers the government is putting out there. You can only tell a lie so many times, before it does NOT become the truth, it becomes an embarrassment to the publishers. Each...
Copper prices rise when the economy is thought to be growing and needing more electrical
infrastructure while they fall when bearish indicators might project a recession. With that in
in on the 15-minute chart I missed a trade in the junior copper miner ETF this week. I have
now placed COPJ on my watch list and will not miss it again when it falls to support...
Copper prices have risen in recent days, supported by a number of positive factors. A weakening US dollar against other major currencies has made copper more attractive to foreign investors.
In addition, the market received positive news from Chile, the world's largest copper producer. Chilean President Gabriel Boric predicted that output from state-owned miner...
Copper (HG1!) has emphatically broken above the last Resistance of the 2-year Bear Cycle as it smashed through the top of the long-term Triangle pattern. The same pattern kept Copper on a Bear Cycle up until June 2020 when it started the remarkable rally to the 5.000 High (1.786 Fibonacci extension).
As you can see on both fractals, the formation of a Death Cross...
Historically over the last 30 years copper begins to fall right now into the end of May / June. I'm now shorting copper with a price target of $4. COMEX:HG1!
Waiting for rejection off the liquidity zone.
Selling only after the break below the HMA and the retest of the liquidity zone.
The break below the HMA has already happened. In the area of the retest of the liquidity zone at the moment.
Looking to sell from that zone.
Trading this off a higher timeframe as this is a 3 week swing at the least
**This is just my...
