Copper (HG1!) has entered the 3.9740 - 4.0235 Resistance Zone that has been in effect since May 01 2023. It has provided the rejections of August 01 2023 and December 27 2023, with the latter hitting the 0.618 Fibonacci retracement upon its reversal and the former the 0.786 level.
Technically the current 1D CCI pattern is almost identical to the one that preceded...
Copper futures prices rallied by more than 4% in the last week’s trade, and the metal is now approaching the year-to-date breakeven level. The question is: What is behind this rally?
Recent catalysts:
CPI and PPI came in well above estimates last week, sending interest rate yields higher. Industrial production numbers for the month of January contracted by...
Copper (HG1!) is trading on its 1D MA50 (blue trend-line), on a Bullish Leg following the February 09 2024 rebound. That was a Lower Low within the Channel Down that started in December. The long-term pattern is a Falling Wedge and being much closer to its top, after the January 31 2024 than its bottom, this is a strong sell opportunity.
The August 2023 Lower...
TrendCloud is specifically designed for Trend Following and Trend Reversals.
That is what we do best here at TrendCloud Trading.
Today we found a huge trend reversal opportunity on Copper.
4 hour / 1 hour / 15 minute charts
TrendCloud Reversal key points:
1. Extended Trend (blue candles)
2. 4 hour supply zone hit
3. ADR checkpoint hit
This gave us the...
Right now copper futures (HG1!) are trading sideways in a well defined channel. With the growing demand for elecrtic vehicles and government pledges to decrease their carbon footprint copper should become a valuable commodity for building this new infastructure. While copper is trading in this channel I am going to be trading with the CPER ETF that tracks copper...
Copper futures fell further to around $3.8 per pound, marking a weekly loss driven by concerns over demand from China and heightened US interest rates.
China's manufacturing sector contracted for the fourth consecutive month in January, contributing to the negative sentiment.
With a robust US jobs report, expectations of a Federal Reserve rate cut in March have...
A bear flag is a bearish chart pattern that's formed by two declines separated by a brief consolidating retracement period. The flagpole forms on an almost vertical panic price drop as bulls get blindsided from the sellers, then a bounce that has parallel upper and lower trendlines, which form the flag.
The copper price in USD per ton since 2015 is rising within an upward (green) trend-channel with consolidations (red) followed by strong acceleration phases (yellow) suggesting that the correction since 2021 is coming to an end and that a new strong price increase is poised to start once the red resistance is broken and transformed into new support. Analysts in...
If you trust the recent 9/20 day moving average crossover enough to short copper, today's bounce back toward the 9MA might be a good one to sell.
When setting a profit target to the downside, a harmonic trader could project a shark with its C-point (D-point in the diagram) in the neighborhood of 3.5365 (red circle), for about a USD0.25 profit per contract. This...
On the left we see in formation the final leg of a nice ABCD harmonic pattern in copper futures— if it forms. The moving average crossover suggests otherwise.
For further guidance, we can examine Dr. Copper's price pattern since commodity prices started to settle down in early 2022.
Your move. We would find it acceptable not to do so for at least a few days.
Sell march copper 383.60. Stop 386.90, tgt 372.80
Copper closed below a key support level
**Trading commodity futures and options involves substantial risk of loss.
The recommendations contained in this letter is of opinion only and
does not guarantee any profits. These are risky markets and only
risk capital should be used. Past performance is not indicative of...
- The market registers higher peaks and bottoms, trading within a bullish channel since the end of October 2023, the medium-term trend is therefore bullish.
- Very recently, prices recorded a 4th impact on their bullish trendline, following a sell-off since the failure below the $397.40 area.
A strong positive reaction is currently recorded in the shape of a...
