Pattern formed -Bullish Gartley pattern Potential Reversal Zone (PRZ) - 2.025 Any break below 2.025 will drag the commodity down till 2. On the higher side major resistance is around 2.070 and break above targets 2.100/2.135. It is good to buy at dips around 2.025-.30 with SL around 2 for the TP of 2.070/2.100.
Copper has made a low of 2.042 and recovered from that level. It is currently trading around 2.073 It has also broken minor trend line resistance 2.066 (trend line joining 2.133 and 2.112) jumped till 2.073. On the lower side it is facing support around 2.039 (Nov 25th low) and break below targets 2.020/2.00. The minor resistance is around 2.066 and break above...
Bear divergence on the cci...Short to the FIB 0,382 and MA100..Cross macd...Lower triangle TL...
Copper Target 2 almost achieved at 2.128. Book full profits
Copper has broken trend line resistance 2.056 and jumped till 2.0820. It is currently trading around 2.054. On the lower side it is facing support around 2.050 (Cloud bottom) and break below targets 2.020/2.00. The minor resistance is around 2.073 (trend line joining 2.082 and 2.076) and break above will 2.102/2.128/2.170. It is good to buy at dips around...
As Australia is a main exporter of Copper, there is a strong correlation between the metal and AUDUSD rate. Recently, there has been an ongoing divergence between these 2 instruments which usually move in tandem. While Aussie has been registering higher highs and higher lows, Copper has become under sever selling pressure and its August lows have been breached....
COPPER AB=CD COMPLETE AT 2.0670 LONG and Aim 2.5350 and 2.8240 SL: 2.05
PIN BAR formed at 113% level. This indicate a very bullish sign Enter Long position now and I will choose to use SELL STOP (double size) as a stop loss method.
Traders As you know, from my previous Copper idea, I went short. And so far, we have picked up a lot of points from this trade. If any of you went short with me, well done, we did good. We now need to take heed at the current price level and see if it becomes new support for this commodities price. Current price could be support for the time being. Or, we could...
1. Copper BAT Pattern Complete 2. RSI Oversold 3. Trend line Support 4. Potential Higher Low Long at 2.2500 Sl below X point
For those who don't follow me on Twitter and have not seen my chart post there earlier today. Weekly: - Ichimoku setup is bearish, but for last 11 weeks we have seen only higher lows! This is almost a 3 months bearish consolidation - Heikin Ashi shows slight bullish divergence through haDelta/SMA3. HA candle is still red, first key level is Tenkan Sen at...
Looks like copper is ready for another leg lower in the near term. The overall long term trend for copper is still down. However for the short term , we have see an upside correction recently, however probabilities suggest that trading with overall trend is favored. And thus the recent pullback could be a good oppurtunity for another short. Technically, A...
Friends, Expecting lows to come off current price as copper still weighs on Chinas economic woes. There is a long term technical target outlined on the chart, could it be hit? We'll see, because I sure as hell don't know. Best of luck, Tom
Strong divergence in copper shows that the bearish trend is possibly ending. No long position before a break over 2.5 though.
Copper is currently doing little, trading near 2.310. Although there is one ST support in and around 2.3, the odds of a dip to 2.25-2.27 remain decent, and a stronger correction to nearer 2.23-2.24 would be of little surprise. With 2.38-2.40 looking like a hefty barrier near term, and knee-jerk higher today should offer a good shorting opportunity, albeit quite...