Copper buying opportunity After striking resistance multiples times price broke the resistance , now the previous resistance will become support
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.
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 Looks short term downsideAs per chart its moving in a channel....Downside possible for 2-3 days....after consolidation it will start again its upward journey as per Hourly chart since its above trend line
Copper daily chart comes long Copper taking support on daily chart
Trendline support :Low of feb 24 ,,June 24 and , 16 July 24
Likely to bounce from here on
Massive rally on the cards
International CopperThere might be a super rush in all base metals and commodities after this breakout happens
Load up on Industrial metals more than base metals and noble metals
Copper at Important levelCopper should respect the green line which is Fib 0.5 level and falling wedge
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COPPER AnalysisAs we can see from Dec to Feb price touch 3.93 level 3 times and fail. 1st time it create a bearish engulfing second time bearish harami. third time shooting start.
if price break and close below 3.719 level then we can see a target of 3.5598.
resistance 1: 3.93025
resistance 2: 3.96299
Support :
Copper Correction?Seems like the FOMC decision has triggered trouble for Copper & Equities alike.
A test of lower levels 3.6/3.5 is possible soon...
View negated if closes above 3.73 (on DCB as well as WCB)
short sell copperThe 200 ma is sloping down which is clear evidence of the downtrend. The 50ma is also below the 200ma further confirming the downtrend. This looks like a bounce in the downtrend. There is a key pivot level which the commodity is approaching now. This will be a good level to sell from a technical per
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Displays a symbol's price movements over previous years to identify recurring trends.