Let’s Ride the Copper Rebound!
Current Price: $4.912
Direction: BUY
Technical Justification:
• Support Reclaim: Price has bounced off a previously respected horizontal support zone (around $4.89–$4.90), forming a potential double bottom.
• Volume Confirmation: Buying volume is increasing near the support zone—an early signal
About CFDs on Copper
Copper is an essential industrial metal used worldwide. Copper prices are followed in financial markets around the globe and the metal is growing in popularity. Copper is widely used in construction and because of its electrical properties is found in wires and circuit boards. Copper is mined in open mines around the world, with Chile and the United States leading in overall copper production. The demand for copper is increasing as countries such as China and India continue to develop, while the supply remains tight. The growing demand and constrained supply is likely to keep copper prices volatile in the near future. Copper prices are commonly quoted in USD.
Copper XCUUSD: Double Bottom PatternDouble bottom pattern in Copper. Entry confirmation when price will close above entry level, i.e., 4.55935 and test this level as support. This is supported by a very slight divergence in RSI. The pattern is invalidated if the recent low, i.e., 4.51510, is breached.
The targets are shared on the cha
Bearish on Copper - Weekly and Daily viewOn Weekly, The price is trading in a channel/range and looks like it is headed towards the bottom of the channel
On daily, price is displaying corrective structure ABC.
My view: Although it looks like taking support at the trendline on daily, it coud potentially break and go down below.
I am
Long Copper Hi everyone, Hope you are having a good day.
Let'sdiscuss the trade idea on copper. I use a volatility contraction pattern which is given by Mark Minervini.
I believe before every explosion, there is a contraction or what i better know it as "silence"
Obviously we have to take all the other thin
Copper at Important levelCopper should respect the green line which is Fib 0.5 level and falling wedge
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See all ideas
Displays a symbol's price movements over previous years to identify recurring trends.