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Micro Copper FuturesMM

Micro Copper Futures

4.8085USDD
−0.0275−0.57%
As of today at 16:23 GMT
USD
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MHG1! trade ideas

Copper fresh downtrend startedFor all trade on my Auto Harmonic patterns indicator trade setup - Risky trades can take trade after crossing 23.6% on either side and safe traders can take trade after 41% We can start buying when our Trailing SL hit at 23.6% with SL of recent low our Target will be 41%, 78.6% , 127.2% 161.8% and 223.6 % , when reversal pattern appears on chart we have to trail our SL if trailing SL hit exit from long trade and initiate sell trade ,
MCX:COPPER1!
by JaiPrakashShuklaHarmonicTrader
1
Copper ready for Upmove 740 again For all trade on my Auto Harmonic patterns indicator trade setup - Risky trades can take trade after crossing 23.6% on either side and safe traders can take trade after 41% We can start buying when our Trailing SL hit at 23.6% with SL of recent low our Target will be 41%, 78.6% , 127.2% 161.8% and 223.6 % , when reversal pattern appears on chart we have to trail our SL if trailing SL hit exit from long trade and initiate sell trade ,
M
by JaiPrakashShuklaHarmonicTrader
COPPER: Neutral. Wait for a breakout.Copper is technically neutral, as also dipicted by the 1D outlook (RSI = 50.817, MACD = -0.013, ADX = 24.251) inside the HL trendline of the Bullish Megaphone and the LH trendline of the January High. This movement can only offer scalping opportunities. If you want to commit beyond those, buy over the LH and target R2 on the medium term (TP = 4.1950) and sell under the HL and target S2 (TP = 3.5450). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
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by InvestingScope
3
Industrial metals continue to face headwinds as Chinese data disIndustrial metals were the worst performing commodity sector last month and were down 2.7%1. Over the last six months, the sector is down 15.2% and has created the biggest drag on the overall performance of commodities. China's real estate sector, once the engine of its economy, is now teetering on the edge of crisis because of excessive borrowing, overbuilding, and a housing slowdown. The government's crackdown on risky practices and sudden intervention in 2020 to prevent a housing bubble have led to over 50 Chinese developers defaulting or failing to make debt payments in the last three years. The consequences include reduced consumer spending due to falling housing prices, disappearing jobs tied to housing, and decreased business confidence. While policymakers have taken modest steps to address the situation, the real estate turmoil has spread to financial institutions and the broader economy, prompting concerns of a larger crisis. A build-up in industrial metal inventories over the last 3 months is consistent with market expectations of ample supply of the metals for the rest of the year, given relatively modest demand. Zinc inventory is up 96% while lead inventory is up 85% compared to 3 months ago. This is clearly weighing on sentiment towards industrial metals. Copper (COMEX) was down 2.8%1, and aluminium down 2.8%1. The only bright spot in the basket was lead, which was up 3.7% last month. Speculative positioning in COMEX copper has been oscillating between positive and negative territories in recent months and entered negative territory again last month after briefly becoming positive2. COMEX copper inventory is up around 46% compared to 3 months ago. And although copper held in COMEX is one of the smaller stores of the metal, when combining London Metal Exchange, Shanghai Futures Exchange and COMEX, copper inventory is still 27% above where it was 3 months ago. Nickel was down 5.7% last month1. Although nickel is widely known for its use in electric vehicle batteries, a growing market, it still draws around two-thirds of its overall demand from the production of stainless steel. China's steel market has been facing pressure in August due to continued high steel production despite sluggish end-user demand. Blast furnace utilization rates have risen, but some local mills in key steelmaking provinces like Hebei and Jiangsu have not received official communication about output reductions. Uncertainty surrounds the extent of China's steel output cuts for the rest of the year, with expectations of smaller scale cuts targeting environmentally sensitive regions. Rising steel inventories are attributed to robust production and weak demand. Despite potential production cuts, market sentiment remains cautious due to these challenges, and steel prices have declined. This, in turn, is weighing on nickel. Source: 1 Bloomberg as of 21 July 2023 to 21 August 2023 2 Commodity Futures Trading Commission (CFTC) as of 15 August 2023 3 change in inventory over the past 3 months by United States Department of Agriculture This material is prepared by WisdomTree and its affiliates and is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The opinions expressed are as of the date of production and may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and non-proprietary sources. As such, no warranty of accuracy or reliability is given and no responsibility arising in any other way for errors and omissions (including responsibility to any person by reason of negligence) is accepted by WisdomTree, nor any affiliate, nor any of their officers, employees or agents. Reliance upon information in this material is at the sole discretion of the reader. Past performance is not a reliable indicator of future performance.
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by aneekaguptaWTE
Copper Conundrum: Diverging Indicators Point to More DownsideThe last time we looked at copper was last October, and the trade played out nicely in our favor. Much has happened since then and we think another opportunity lies on the horizon now. Revisiting the same analysis now we observe the following… China, being the largest copper buyer, its currency pair CNHUSD traditionally shares a high correlation with copper. However, a divergence has emerged since May 2023. Moreover, copper's wide usage in manufacturing - from batteries to appliances and industrial machinery - makes China's import and export figures a good indicator of global economic health. These figures currently paint a gloomy picture, with YOY Exports & Imports pointing lower. Again, we notice a divergence between copper prices and these economic numbers. The Gold/Copper ratio, usually confined within a certain range, has recently tried to break higher. Despite facing resistance, the movement may still have momentum. Previous breaks upward have proven to be quite rapid. One way this could play out is if copper trades lower, the Gold/Copper ratio tends to trend higher. From a price action perspective, copper seems to be breaking out from a seven-month bull flag, inching towards the 4.00 price level. However, the significant resistance at 4.00 casts doubts on the breakout's success. Further fuelling this doubt is the emergence of a Simple Moving Average (SMA) death cross on the daily timeframe. On a shorter timeframe, the Relative Strength Index (RSI) suggests slight overselling, while the overall price structure is encapsulated in a symmetrical triangle. Summing up, we foresee short-term downside for copper due to diverging macro factors from copper’s price and a downward trend in the dollar. Moreover, price action suggests overbought levels and looming resistance. CME has the Full-sized Copper Contract or the Micro Copper Futures which we can use to express this view, taking a short position at the current level of 3.904, stop loss at 4.10 and take profit at 3.55 the next level of support and subsequently 3.30 if the symmetrical triangle breakout happens. Each $0.0005 price move in copper per pound is equal to $1.25 for the micro copper futures and $12.50 for the full-sized copper futures. The charts above were generated using CME’s Real-Time data available on TradingView. Inspirante Trading Solutions is subscribed to both TradingView Premium and CME Real-time Market Data which allows us to identify trading set-ups in real-time and express our market opinions. 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 Disclaimer: The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios. A full version of the disclaimer is available in our profile description. Reference: www.cmegroup.com www.cmegroup.com www.cmegroup.com
CShort
by inspirante
Copper's Perfect PennantWhile the concerns of a Global Recession are not entirely out of the question, the supportive economic activity we have seen in the U.S. should indicate that the Fed may be closer to achieving its soft landing goals. Construction and housing remain robust where mined resources such as copper are in peak demand. Asia and India have also seen a pick-up in activity where China has stepped in to address its recent economic setbacks by cutting interest rates and backstopping its real estate market. Let's look at the charts The Technical landscape indicates a near-perfect pennant formation after carving out a bottom in mid-August and forming a flagpole up to the August 23rd highs. Traders will see the market has consolidated throughout the week, generating the pennant before blasting off on weaker Jolts and ADP payroll data. The stochastic momentum indicator shows that prices have breached overbought levels, telling you that a new bull market may be in store. Traders will want to use $4 as their upside target, last seen in July, and $3.75 as their first level of support. www.tradingview.com 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 Disclaimers *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.
CLong
by Phil_Blue_Line
Copper needs China.As everyone knows, China is one of the largest consumers of copper. And it is the demand for copper from China that largely forms the market for this metal. For some time now, demand has fallen sharply and pushed copper quotes down. Copper is a very interesting trading instrument. That's just to sell more in all likelihood, if you have to, then only on very short time periods. Traders are waiting for the resumption of demand from China. When this happens, it will be possible to open long positions and earn. So far, we are watching how the price interacts with the formed support level and the long-term resistance line. Probably the outcome with the growth of copper is already close.
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by UnknownUnicorn35464798
Copper - Did Social Media Tell You To Long The CCP Again?They call copper "Doctor Copper" because it's said to forecast the overall world economic conditions on account of being tightly wed to manufacturing. Well, what people are really yammering about with that over the last 20 years is whether or not the Chinese Communist Party is healthy, and the world by proxy being healthy because it tied itself to the most heinous regime in history, the one responsible for the 24-year persecution of Falun Gong by former Chairman Jiang Zemin and the accompanying organ harvesting and genocide. Unfortunately for all the blind bulls, the early 2021-2022 price action was a pretty good indication of a top, and that top is really confirmed by the fact that since October of '22, this bounce has been pretty weak, and starting this month, with all the drama surrounding the slow collapse of the Chinese economy, took out the previous two months' lows. Monthly shows you that August price action took both the July and June lows. Like, that's not the kind of "signal" you want to see to get long for a new all time high. When something is retracing to take out major highs, you want to see lows rarely violated with something of a freight train towards the old highs. Weekly bars show us something of a subtle pattern where it looks like it's just taken some lows and is consolidating and continually flirting with going back up. But in reality the market makers are, most likely, just selling more under the previous $4.00 area. And if that's really true, it means another gap down is imminent, especially after an entire quarter of ranging. If you ask me, the first area that you can look for a long that is more than a scalp on copper is under $2.8, which is a critical pivot from September. And a more likely target in the next 12 months is the $2.00 mark, which was barely swept out in the COVID drama. The reality is, my friends, the Chinese Communist Party is going to fall overnight in our lifetimes. Not five or ten years from now. But very shortly, and everything is going to change. Whether that is caused by Xi Jinping throwing away the CCP to protect himself and China from being taken over by the International Rules Based Order as it uses Taiwan as a soft proxy war, or because the whole world collapses under the results of the persecution of Falun Dafa, since everyone's been going to Shanghai to worship the toads and the Devil Red to get financial benefits. This is the danger. The danger is imminent. But copper trades painfully slowly, so if you want to do this you have to have long duration, ignore the noise, and be willing to suffer some drawdown. China under the CCP is never going to recover. Things are never going to be okay ever again. Things will be okay once mankind returns to tradition. But there won't be an international stock market like this anymore that day.
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by LordWrymouth
Copper: A bit lower 🪜The copper price is back in our blue target zone and dedicates itself to extending the low of its blue wave (c). After this fall, we expect significant rises in the context of the magenta wave (y) above the resistance at $4.19. In the short term, speculative opportunities are thus given here on the long side with the active blue target zone. Subsequently, however, new downward movements to our green target zone will be interesting for long-term investors.
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by MarketIntel
COPPER Two year Triangle may finally break.Copper (XCUUSD) is trading within a Triangle pattern since the March 07 2022 High. The price is currently above the 1D MA200 (orange trend-line), supported twice by the 1D MA50 (blue trend-line). The 1D RSI shows that we may be replicating the July 15 - September 20 2022 fractal. If the price breaks above the top (Lower Highs trend-line) of the Triangle, then based on the fractal should target initially the 1.5 Fibonacci extension level at 4.1800. As long as it closes below the Lower Highs, we will sell and target the 3.6870 Support. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
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by TradingShot
1
Copper’s Strategic BreakoutWe are observing an intriguing shift in the copper market that might offer a potentially profitable trading opportunity. On the daily timeframe, copper prices are manifesting a noteworthy breakout from a symmetrical triangle pattern, an event typically associated with substantial price movements. Moreover, on the hourly timeframe, the metal is crafting a fresh local top, a sign of potential bullish momentum. A strong confirmation signal for this prospective uptrend would be an hourly close above the previous peak at 3.9320. Assuming this bullish scenario comes to fruition, a strategic long position is recommended, with a Stop Loss set below the recent local low at 3.8765 to manage potential downside risk. We suggest two possible Take Profit targets based on Fibonacci extensions of the previous impulse waves and the range of the symmetrical triangle pattern: The first target is at 4.0495, aligning with 1:1 and 1:1.618 Fibonacci extensions. This objective yields a favorable 1.5 risk to reward ratio. The second, more aspirational target is set at 4.2360, matching the range of the symmetrical triangle pattern on the daily chart, presenting an attractive risk to reward ratio of 4.5. Please, consider this analysis as part of your investment strategy, yet remember that trading always involves risks and it is crucial to manage them appropriately.
CLong
by formaaaa
Copper - (continued) SHORT; for now ...I fail to grasp the general consensus where the overall impression seems to be that "bad technicals" but "a very pretty fundamental picture"? LME stocks jumped +45% just since January alone! - How is that a "good" fundamental picture? (I must be missing something, especially with China not coming back, in any way resembling past demand.) Long(er) term, one could make a case, perhaps, but only by disregarding the hole that the decline of Chinese demand will poke into global fundamentals. On the other hand, Copper/Gold ratio looks rather bullish. Here is a close-up; As for the Copper/Gold Ratio; That is definitely what bullish looks like! Stay SHORT for now (... and then make a lot of money trading it from under 3.50 ;-)
CShort
by Nemo_Confidat
2