Although I have not located the specific index, I have compared copper with the main components of the index and in fact there is a clear relationship between the two intrument, it is closely related to the flow rate between shipments and the cooper is very simple.
Copper, symbol, HG, price action is giving us an early warning of a Bear Market with price trading above the 50 week ema, which is below both the 200 and 800 week emas, with the 200 still above the 800. Price is currently above the 9/13/30/50 week emas, so it currently is in a rally, but the long term emas are mostly flat, telling us we are in a...
BAT ADVANCED FORMATION harmonic pattern approach
Spoke with someone last night who emphasized the uptick in security at construction sites more or less specifically for people stealing COPPER. I am going to COP some COPPER. Don't do what I do. This is not financial advice. I do not know how to trade or chart, and this idea is just art : ) - Namnaste' Happy Monday fam P.S. Trade Futures? Send me a PM. Opening...
Is Copper finding support on the 200-month moving average? If you zoom in, you will also find a falling wedge pattern on the daily chart.
Copper is interestingly a great gauge of economic health coming from Asia, and also a relevant view on global growth / inflationary expectations. We've been battling two head and shoulder formations since the GFC. First, the very large commodity bubble formed a big head and shoulders that peaked roughly around 2012, a time where China had maxed out its credit...
Daily Chart Explanation: - Price is against a Weekly Support Zone. - Price is under a Descending Trendline. - Bullish Divergence on MACD. - If price breaks the Descending Trendline at 2.68, potential to move up towards the Resistance Zone at 2.96 and, then, to the Weekly Resistance Zone at 3.2. Our Weekly Vision supports this potential long idea. Take a look!...
The Copper daily chart corresponds to our long term overview.
The Copper weekly chart corresponds to our long-term overview.
Copper is on a 4H bullish leg (RSI = 62.650, MACD = 0.014, Highs/Lows = 0.0064), after finding support around 2.6000. It just crossed (marginally) above the MA50 and on similar patterns since September 18, this calls for a bullish extension at least towards 2.8400, which is our TP. Breaking above the MA200 enhances the probability for a test at the 2.95000 1D...
It's been a couple of tough months for Copper as the metal was unable to go topside of the $3 level and subsequently broke below important support at the $2.84 figure, which precipitated its recent slide down the slippery slope where we now find the Good Dr. attempting to hold its 40-Week (200 DMA) as evidenced in the Weekly chart above. While the landscape...
Copper is in trouble as ongoing data out of China (and broader APAC/ASEAN nations). Just moments ago, South Korea's first 10-days of exports contracted 19.1 percent YoY and imports dropped 15.4 percent. South Korea is a global bellwether for economic growth and the first of the Asian countries to report. Quantitatively, we'd short copper at the TACVOL range top...
Copper (HG) D1: Resistance zone + 2 Pin bars + Side of Bollinger Bands (50,2).
The Copper daily chart corresponds to the article "Metals Group Outlook".
The news has been bad around China and the trade war- but perhaps some relief is due as fatigue sets in Copper has broken out of a triangle base Scenario A) Broken trend line provides support on a pullback for bigger move to 2.86 Scenario B) Old highs at 2.75 hold and price drops back into its range
FCX * Freeport-McCoran Mining LG CAP $19B hurt by copper imports to China and copper prices being low. * FCX also mines Nickel and Cobalt along with copper and both are needed for EV. * HG * LRN * Cobalt value increasing but larger play still copper * VIX For own use and reference for entry.
Our negative Bias on Copper was confirmed last week, and we remain biased short into this week as well. Pressure should remain, so long as China data shows weakness this week. Main support is 2.8 which we bounced Friday. Look to sell rallies up to 2.88 or breaks below 2.80.
Copper daily chart update from the idea posted on June 11th.