COT reports slowly edging in bullish territory (May Still take a week or two). Daily Momentum also trying to turn UP. Price taking support at 200 Weeks MA. I will be looking for Buying Opportunities in Copper , in coming Weeks/Months. But a bit of Patience is the Key Here
You can check H.G. Infra as a good buying level near 700. It is showing a Wedge or called a symmetric triangle breakout LTP : 694 TG : 850 SL : 650
With COt reports just turning bearish , looking for selling opportunities in Copper , in coming Weeks & Months.
IN spite of Bullish COT Reports - Copper Still seems to be working to kick out the last bear. While Weekly Momentum is up and Daily Down, Looks like it still has one or two legs down before it moves up. 3 to 3.1 Area Looks interesting. Watch Out for it. Have Patience and keep a Watch on Daily Momentum
Overall Elliot wave counts on daily time frame. Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer. I am not sebi registered analyst. My studies are for...
COT Reports and Daily Technicals Suggest that Copper is due for a Bounce Shortly
A strong breakout candidate copper set for resuming the uptrend after a thorough consolidation
Keep an eye on Copper. It CAN be a wait of few more weeks, before it breaks out
Strong COT dat and RSI favors longs in copper. Comments on Charts.
Read Notes !!! Simple trade but patience required..
Correction or Impulsive Down Move - Only Time will tell. However one can stay with a short side bias for next month or so and play for a move to 2.3 Area (Green Line)
Nothing More to add to my last comments. Except that the possibility of a last push up to Green Area still remains in Play.
Not much to add to Last Weeks Analysis, except that i have also added Open Interest to the chart. You can well see that Open Interest is at Record High for Last 7 Years. In fact it is at all time record high for last 25 Years. So be Careful. With Bearish COT Commercials and record high OI, My Bearish call has a solid backing and reasoning
With Limited possible upside, distribution may soon begin. Be Careful with LONG entries.