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MINI - USD London Copper FuturesMINI - USD London Copper FuturesMINI - USD London Copper Futures

MINI - USD London Copper Futures

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LUC1! trade ideas

Copper Rises to Resistance as Supply-Side Issues Heat UpCopper prices are seeing some upside movement as supply-side issues intensify. Codelco's Andina mine in Chile saw workers go on strike after mediation talks fell through. This adds to labor tensions in the major copper-exporting country, with workers at BHP Group's Escondida mine still negotiating a new contract as a possible walk-off looms. Meanwhile, workers at a JX Nippon Mining & Metals owned mine, also in Chile, went on strike this week. Prices are now at a descending trendline formed off the July swing high after rising off the 61.8% Fibonacci retracement. Moreover, the 50-day Simple Moving Average (SMA) looks to be providing a degree of confluent resistance. Breaking above the trendline may open the door for an extension higher.
COMEX:HG1!Long
by Thomaswestw
$FCX - Inflation hedge + Infrastructure play w/ technicalsLots of investors typically look to precious metals such as Gold, Silver, Platinum or Nickel when hedging their portfolios to protect against inflation (unless you're Peter Schiff, then you're all in.) Some analysts believe Copper has more upside than its counterparts. Outside of just existing, it does have many uses and is commonly used in construction. From houses to communication wires to electronics. Copper is everywhere. It's not too farfetched that with the infrastructure bill going through, that demand for this precious metal will increase. As it stands now we're already in a Copper shortage, the last few years has proven that the current supply can not keep up with demand. From a technical perspective, FCX on the Daily time frame is nearing the breakout point of an inverse head and shoulders. HG1!, Copper Futures, is in a bullish pennant. It formed a pinbar off of the golden pocket and held the support of the pennant. Both of these, technically speaking, are set up to breakout. CPI numbers came in as expected today but often times charts and real life events line up so we will see how the next report does. Currently in $FCX calls for January. Warwick OptionsSwing Analyst
COMEX:HG1!
by optionsswing
New trading Strategy upgrade - CopperHi traders, this is my personal trading idea only. Please give an AGREE/ LIKE, my trading strategy is Price Auction - Chart only, I don't use indicators, MA, signals and trend line etc. Your comments are highly welcome. We need a relax and happy trading with happy ending on each trade. My chaos drawing is not to predict and guess the further, it is my plan where we are on the chart and how we shall trade on what we see. Good luck guys. Sell at M15-M15 and buy on H1 chart
COMEX:HGU2021
by QQGuo-Shane
COPPER trade idea.Analysis: Copper is in a strong uptrend, but we had 2 cases when the price rose stronger than expected. I market the 2 expansions with the green zones. I do not say that the bullrun is over, but I wont recommend to trade with large positions since the current market structure is neutral. The current potential risk reward ratios on short and long positions are quite bad. Right now it's too late to buy and too late to sell as well. I am waiting for a much clear picture before I will open a new trade. Conclusion: Neutral
COMEX:HG1!
by tmsarn
JICPT| Copper pending breakout the sideway upper boundary!Hello everyone. Copper is on the top of my watching list due to its widely usage in the world. In my opinion, it serves as the leading indicator of the economy to help us catch nice investor opportunities in the market. e.g. thematic funds. To make the long story short, let's look at the daily chart: 1. The long-term MA did prevent the price from further going down. In addition, the short and mid-term MA failed to crossover the long-term one, indication momentum to the upside. 2. It has been sideways for a while with the key level 4.4080 to be taken out. The level is also the upper boundary. 3. The likelihood of going up is high, however, I don't know if it directly penetrate the key level(4.4080), or seek support from the bottom level. I guess nobody knows. Considering the date of today, normally Friday is a bit quiet. So, we're very likely to know the result next week. Two possible setups: Breakout and pullback trade: with impulsive breakout, I plan to long at the pullback. This is momentum play. Pullback and bounce back trade: Price falls to the bottom of the sideway structure(4.1340), I plan to long at the bottom. This is a sideway setup. Hopefully, it helps. Enjoy the weekend.
COMEX:HG1!Long
by JICPT
Copper Prices giving a heads up... Earlier, I posted about the S&P500 defying gravity. Another indication to support that view is here... COPPER. It is well known for copper futures to lead/follow (takes turns) the equity markets. The reasons behind this phenomena is very fundamental, copper is used in production of many things, and in an economic upcycle, copper is one of the first metals required, in many forms from wires, to electronic parts. So, superimposed is the SPX on /HG copper futures. You can see the love/hate correlation. It is just astounding. Copper technicals are similar to that of 9 April 2020, as it bounces off the Gann fan support, breaks out over the trend line resistance... it appears bullish, even suggesting that it is looking for the last high. So what might this mean for the S&P500?
COMEX:HG1!Long
by Auguraltrader