Bullish - COPPERCopper seems to be breaking out of a continuing Triangle Pattern , Let's observe how it goes.
COPPER1! trade ideas
Copper sell trade given today at 868 hold it 859, 854 Target On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
Comex Copper = Explosive Nifty to Unfold in 2024 ?Disclaimer:
Trading in financial markets involves substantial risks. Consult your financial advisor before making decisions. This commentary is not a solicitation to buy or sell.
WaveTalks - Market Whispers: Can you hear them?
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Copper Outlook
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1. Setting the Stage for Explosive Moves:
- Copper is recognized as a barometer of economic growth, and its performance can provide insights into broader market movements.
- In January 2023, I predicted copper would see explosive growth in 2023-2024. This was confirmed in November 2023 when the corrective wave 2 completed in a truncated wedge pattern, providing a strong foundation for significant gains.
Comex Copper in Nov 2023 ( Explosive Wave to Unfold Next?)
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2. Rising Demand:
- Copper cathode demand reached 598,000 tonnes (81.2% of the previous year's total) by November 2023.
- Imports of copper cathode, scrap, and wire rods soared by 174%, 56%, and 13% year-on-year, respectively.
- This robust demand hints at double-digit growth in FY24. The Indian government's focus on infrastructure, clean energy, and consumer spending is expected to sustain this growth.
3. Production Challenges and Future Solutions:
- India's smelting capacity was halved due to facility closures, turning the nation from a net exporter to a significant importer.
- The upcoming Adani smelter (5 lakh tonnes capacity) and potential reopening of the Sterlite smelter in 2024 could help India reclaim its status as a net copper exporter.
Nifty / BankNifty Outlook
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1. Explosive Moves Expected:
- The Nifty index started forming a well know rising pattern around the 18,800-19,000 zone in October to November 2023, suggesting a significant move ahead. This famous pattern was rising wedge.
- This pattern was debated on WaveTalks as either an ending or leading diagonal, offering different implications for future market moves.
2. Elliott Wave Analysis Insights:
- Applying Elliott Wave Analysis gave clarity to potential market paths, allowing for strategic decisions at tops and bottoms.
- As patterns unfolded as expected for Copper, the market outlook became increasingly clear for equities as Copper is a barometer of economic growth.
3. Conclusion:
- The Indian equity markets, particularly Nifty and BankNifty, appear set for more explosive moves.
- Time will reveal how far the markets can go, but the whispers of the market suggest significant growth ahead.
Signing off from WaveTalks: Market Whispers! Can you hear them?
From WaveTalks
Abhishek
Copper mcx sell given at 844 hold it 848 SL , 838, 829, 816 ,799On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
copper update blw edu pur.copper mcx stya abv 840 looks up side till 850--70++++++ where support 830 if blw thna mkt dwn 822--19 expect over all looks bull zone one can take buy side with support sl
Copper MCX Future Weekly Chart Analysis 08-12 April📊 COPPER 28 MAR WEEKLY FUT LEVELS
🎯 Weekly Range: 42.55
📉 Buy at: 788.15
🎯 Buy Target 1: 827.70
🎯 Buy Target 2: 843.95
📉 Average Position: 783.13
🛑 Buyer Stoploss: 773.97
📉 Sell at: 778.10
🎯 Sell Target 1: 775.10
🎯 Sell Target 2: 758.85
🛑 Seller Stoploss: 792.28
Copper Made HammerBullish Reversal - Hammer On Weekly TF
Buy At Cmp - 709.75
SL - 689 ( Weekly Closing Basis )
Target - 745/760
Conservative Traders May Wait For 700-702
( May Or May Not Come )
Copper Weekly Break Out Underway. Buy on Dips For Bigger TargetsBullish View: Copper's weekly breakout move in underway currently. With the first target being achieved this week.
The chart pattern suggests its a 'Buy on Dip' opportunity and we could look to enter in the Buying Zone as shown in the chart for higher targets. Of course this view is negated at the breach of 680 levels on weekly closing basis.
We could play the rising copper trade as a Pair trade set up by going long those companies which stand to benefit from rising copper and shorting those companies (or at-least avoiding going long) which can face problems on account of rising copper prices.
Examples of companies that can benefit are: Hindustan Copper, Hindalco, Sterlite Copper.
Examples of companies that can face pressure are: Havells, PolyCab, KEI Industries, Finolex, etc.
Copper 732 Target hit buy given from 724 On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
copper mcx breakout update blw copper spot blw 3.81$ looks dwn fall 3.75--3.70$ in mcx looks breakout sell copper 723@--724 sl 726 tgt 720--715++++++
Copper mcx buy on dip till recent low not break On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
Copper CX now at 722 , 724 next Target buy given at 709 On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
Copper mcx buy active from 708 SL 704 Target 715, 718 , 721On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
Copper MCX ready to go near 720 recent low is very strong suportOn Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
Change of polarityCopper is ready for massive move after long time consolidation
How to trade it?
Stoploss 713 target 740
If break above 740 next target is 760
COPPER On the Hourly time frame of Copper, I have noted the following indications.
1.The downward momentum has been waning.
2. There is a Bullish divergence on momentum with each Lower lows.
2. We can see a clear inverted H&S pattern on joining the previous highs.
4. Now, there is a breakout and retest of the downward trendline with a volume increase during the breakout.
5. There is also a "W' pattern formation after the breakout and retest. Which is a continuation pattern.
6. If the price holds the retest and shows a reversal candle stick formation,
This could be a bullish reversal.
7. The first target for price is around 740.
Copper MCX ready for upside move 3.5 to 4 points profit running On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
Copper Future Elliott waveHi all this is copper future analysis on basis of Elliott wave analysis.
If you see copper on larger time frame like 1 weak, this is making Failure irregular Flat or could make contracting triangle.( Failure irregular flat consist of 3 legs-ABC) or if it is making contracting triangle, it will have 5 legs ABCDE, as of now it has completed C leg, if this is failure irregular flat, then market price will rally upward sharply once there is support of volume can be seen on larger time frame, if this is contracting triangle then we will see D leg and E leg which will be time consuming and after that it will rally only the widest part of 70-120% like can be seen as A wave.
Buy -721.10
Target-730
SL- 2 ATR
Copper till 720 not break Sell on riseOn Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
Possible short oppurtunityAt major resistance
Likely to reverse but considering dollar weakness, can be good long trade if brakeout happens and sustains above 740- 745 range
Copper Future elliott and neo waveHi all this analysis is based on Elliott wave and NeoWave concept.
we are elongated flat correction at 1 month time frame, or we are in 4 th wave which is corrective wave once 4th wave is complete, we can see 5thwave which is fib extension of 3 start and to 3rd wave end and project till 4th wave end. so, we will get 0.618% that will be the 5th wave target.
as of now we are in corrective phase of 4th wave or else X wave. once correction pattern is over, we will see another leg moving in upward direction as ABC or 12345.
Trade setup for long term.
Buy above-760
Stop loss would be 2ATR
target:-887
Target 2-1038
OVERALL MARKET ANALYSIS..... CONFUSED?All the levels are mentioned in the video with some swing idea.
Nifty and Banknifty
Gold silver
Crude Ng
Copper
My view,
Neutral to bullish (rangebound)
C O P P E RCOPPER made inverse head n shoulder pattern on an hourly chart with decent OI & also near its strong resistance zonce of 715.
If copper breaks past 715 then buy with mentioned stoploss & target.
Risk:Reward = 1:2
