Copper to $4 over the next 90 daysHistorically 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!
LUC1! trade ideas
HG | Copper Futures | Short - SELLWaiting 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 trading thought process and does not constitute as financial advice.
**Please trade with proper risk management*
Copper WeeklyDr. Copper joining the move...
But don't trust me, just look at the chart!
#Copper #Gold #Silver #Crudeoil
Copper Update Apr 4 2024Copper is up big!
We are following Mr. Copper on the TTR for a long time. This advance is not driven by a good Global economy. Something is up behind the scenes, which is very scary as this is not a reflection of the Global economy doing so well!
All war metals are up…
75: Exploring the Electric Vehicle and Copper ConnectionIn the ever-evolving landscape of the financial markets, the intersection between Electric Vehicles (EVs) and copper presents a compelling narrative. As interest in EVs surges, propelled by advancements in technology and a global shift towards sustainability, the demand for key components such as copper intensifies.
Recent market dynamics have seen a lack of enthusiasm for EV stocks, prompting car manufacturers to implement price reductions to stimulate sales. However, this move signifies a strategic pivot rather than a sign of weakness, as companies aim to bolster revenues for further investment in the burgeoning EV sector.
Crucially, the production of EV batteries heavily relies on copper, emphasizing its integral role in the industry. Consequently, a resurgence in copper demand is anticipated, driven by the expanding EV market and the broader digitalization trend.
Technical analysis reveals copper's struggle to breach the 4.12 level, hinting at potential downside movements. Key support zones are identified around 3.37 and 2.83, where increased buying interest in copper is expected. These levels coincide with opportune entry points for investors eyeing the EV sector, as copper targets new highs, with an ambitious target of 6.49.
We can see that the convergence of EVs and copper presents a compelling trading opportunity. As the EV market continues to evolve, savvy investors can capitalize on the interplay between these sectors for potential gains.
Copper (HG) Short Term Pullback Should Find BuyersShort Term Elliott Wave view in Copper (HG) shows that the rally from 2.9.2024 low is in progress as a 5 waves impulse. Up from 2.9.2024 low, wave ((i)) ended at 3.9085 and dips in wave ((ii)) ended at 3.8015. The metal extended higher in wave ((iii)) towards 4.164. Subdivision of wave ((iii)) unfolded in another impulsive structure in lesser degree as the 1 hour chart below shows. Up from wave ((ii)), wave (i) ended at 3.952 and dips in wave (ii) ended at 3.902. The metal extended higher in wave (iii) towards 4.081 and pullback in wave (iv) ended at 4.0175. Final leg wave (v) ended at 4.164 which completed wave ((iii)).
Wave ((iv)) pullback is in progress as a double three Elliott Wave structure. Down from wave ((iii)), wave (w) ended at 4.08 and wave (x) ended at 4.118. Wave (y) lower is in progress and target lower is 100% – 161.8% Fibonacci extension of wave (w). The area comes at 3.98 – 4.03 which is shown with a blue box area. From this area, the metal should extend higher or at least bounce in 3 waves. Near term, as far as the pullback stays above 3.978 (1.618 extension), expect the metal to turn higher from the blue box area.
Generational investment opportunityCopper is breaking out of a multi-year long cup-and-handle consolidation in daily time frame, as Gold first broke out. In the monthly time frame, Copper can be seen accumulating, steadily holding above all the moving averages. Once it breaks out of previous pivot, it would accelerate. Huge momentum in the next couple of years. Long-term investment opportunity.
Copper Supply Zone Copper JUST missed our supply zone entry located above the opening range.
Very Clear DBD (drop base drop) formation on the 15 min chart.
We called this out today in the live room. Hopefully we get another shot at this. You never know what is going to work. You can only trade what you see taking place on the chart at that moment.
Copper breakout weekly A breakout like this one could potentially ignite a longer term move up, potential for a spill over effect in other industrial commodities.
Buy May Copper 389.30. Stop at 382.40, target 398.60Copper got a few bullish technical signals.
Buy May Copper 389.30. Stop at 382.40, target 398.60
COPPER Best sell entry of the year.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 the August 01 2023 peak. We will pursue Target 1 at 3.800 (Fib 0.618) and Target 2 at 3.7400 (Fib 0.786).
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The Catalyst Sending Copper Higher? 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 -0.1% vs +0.1% expected. One would expect that both catalysts would have been negative for the industrial metal.
However, interesting developments in the manufacturing sector showed strength, especially the Philly Fed Manufacturing Index, which showed improving conditions for the first time since August 2023. PPI for the month of January was equally surprising, showing producer prices increased more than estimates.
Core PPI came in at +0.5% vs. +0.1% expected. A notable finding from the PPI report was that the final demand for construction, both government and private, was positive. This suggests a potential trough in construction, typically bullish for industrial metals such as copper.
Technicals:
Copper is currently trading between a wedge, and the recent break and close above the 50 and 200 Day EMAs suggest that we will likely retest the high end of the wedge. Breaking and closing above 3.95 would confirm an upside breakout.
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Disclaimers:
CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
*Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services.
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
COPPER Sell opportunity within a Channel Down.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 High rejection initially hit the 0.786 Fibonacci retracement level before making a Lower Low much later. As a result our target is 3.6250, which is just above the0.786 Fibonacci level and a technical Lower Low for the short-term (blue) Channel Down.
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Best Trend Reversal Signals! 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 perfect storm for our trend reversal today.
Enjoy! Like and follow :)
Buy March copper at 384.80 limit, stop at 378.80, tgt at 394.40
looking to buy copper on poullback ahead of NFP report tomorrow. Buy March copper at 384.80 limit, stop at 378.80, tgt at 394.40
CopperRight 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 futures extrememly accuratly through the purchase of bonds to capture opportunities as prices bounce off of supports and resistance lines. When the price does break through the resitance I will switch to longer term investments in the COPX ETF which loosely emulates the Copper Futures but focuses on holding in mining companies and pays out dividends.
Copper futures. Disinflation is almost there to comeCopper 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 diminished.
Weaker Q1 industrial activity is expected to dampen demand, although Glencore's projected 5% production decline in 2023, along with an anticipated additional drop in 2024, could offset this.
Despite these challenges, there is still hope that China will implement measures to stabilize its economy.
Technical graph illustrates also, 5-years SMA is a massive long term support in this time for Copper futures COMEX:HG1! , as it breakthrough can deliver solid further losses for Copper futures prices, like in 2020 (30% off), in 2014-16 (40% off) and in 2008-09 (50% off).
Bear 🐻 flag pattern 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.
Copper in USD per ton to reach $15,000/t by 2025The 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 early 2024 are forecasting a strong price increase of +75% to reach $15,000 USD/t to spur new mine developments (Goldman Sachs predicted this price level already in 2021 to be reached by 2025, whereas mining magnate Robert Friedland also said in late 2023 that this threshold is needed as an incentive for new copper mine developement projects to be realized).
Dr Copper Monthly looking to rally medium termMonthly chart looking to rally
initial Divergence trade has played out, now it looks like the path of least resistance is up
Copper shark attackIf 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 would work out to USD625 for the mini contract or USD3125 for the full contract.
If the shark went on to complete by drawing a full CD leg (green arrow to green circle), that would be another USD0.25 to the upside.
