Watch this commodity, since it's very influential, showing a high positive correlation with the australian dollar. Right now I have a bullish weekly setup, aiming for the area depicted by the triangle, which happens to match two channels' resistance. Rgmov is advancing with price, and currently showing a 0.382 retracement after the recent bearish swing. Will this...
One AB=CD has formed.Considering to buy at 2.29, sl:2.26,first aim at 2.364,then see the second aim at 2.414.The potension right shoulders.
This trade technically constitutes as calling a bottom (which I don't particularly like to do), although I have a few good reasons why I'll be taking this long trade. First and foremost, Copper is currently tuning away from the bottom of it's long term curved downtrend channel. Secondly, last week's candle was a fairly large hammer. Thirdly, Squeeze momentum is as...
Well, I am not fond of catching a falling knife, but you know, major tops and bottoms are created when there is extreme greed or fear. This massive Crab pattern has me thinking that Copper is about to form a powerful bottom. Good luck, Ali Sharifazadeh, CFTe
COPPER BUTTERFLY COMPLETE 2.339 IS THE ENTRY LEVEL CONFLUENCE WITH THE X point structure. LONG!
AS YOU CAN SEE THE LAST CANDLE HAVE A LONG WICK. I AM EXPECTING A DOWN MOVE. WHAT DO YOU THINK??
Till now, we cant see any reason to believe Copper's uptrend at this moment. Prices fall down as a main trend although it may rebounce a little bit in some next trading sessions. Suggestion trading strategy: Long if touch 2.7050 again and keeping short position for next 2 weeks
Copper is setting up for a move here. Long case: Sitting on trendline Right in major support zone Could break small downtrend There is some momo divergence Short case: COT is bearish DX picking up steam Major yearly/monthly/weekly trend is down At this point it would be long above 2.80 and short below 2.72. In either case I would wait for a break and retest of...
Copper (19.05.2015) finally providing some directional momentum after spending more than 3 weeks in range. Now copper is trading around $2.8626 & as we can see on charts , after spending more than 10 trading session , finally copper providing a downside breakout with aggressive volume. The reversal coming in copper is from 61.8% fibonacci retracement level as...
Copper made an impressive run higher. However, watch-out, it's retesting a key area. A previous horizontal support which might turn now to the main resistance. The falling trend line The 52-week Average. Could be a good place to look for short trades as a first scenario.. Unless that resistance breaks, which could signal more upside. Good luck...
Each sign of weakening of the Chinese economy has been interpreted as a high probability of falling demand for raw materials, with a consequent decline in the price of copper. The long-term copper has continued to fluctuate in a downward trend and is likely to values not exceeding $ 3 / ton at the short notice, or this price will serve like resistance. The support...
Chart is self explanatory, since the previous leg down from last year copper has been trending up since February of this year. Currently price has broken out of a "bull flag pattern" and looks as if it wants to retest resistance at 2.910. Marked by the arrows are the previous times the area has acted as support or resistance. A break above would signal me to look...
#Copper bearish in the short term There are signs of weak demand from China main importer and consumer of metals in the world, growth has slowed significantly in recent months with an expected growth of around 7%; PMI recent data have impacted copper prices downward. Today we expect the manufacturing PMI remains at 49.6, under the 50 mark, warning of stagnation of...
Copper is trading in bearish trend and the ongoing bullish pullback was halted at the previous major low at 2.87 with a major shooting star candlestick pattern. Good shorting opportunity..
Deteriorating demand expectations has induced volatility in price of copper, however, has recovered steadily around 8% of its value in the last two months. China main importer and consumer worldwide has seen fall its HSBC Purchasing Managers' Index (PMI) from 50.7 in February to 49.6 in March, signalling to Renewed deterioration in the health of the sector....
Poor prognosis for growth indicators in China persist, this afternoon PMI manufacturing in japan and China are published, a further fall in relation to the value of the latter indicator is expected, so it is anticipated that copper will also fall with a similar intensity to monday of last week, finding support in the average of 100 periods. PMI index Purchasing...
Strike Workers this week in Grasberg (Australia) – the world's second largest copper mine by capacity – Reduction of mining projects in Chile, and Chinese inventories that fell for the first time in two months, a signal that demand in the top metals consumer is slowly recovering after a holiday. Have made that Copper prices jumped to a two-month high on Friday....