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Coppersignals

COPPER Going well according to our long-term plan.Last time we looked at Copper (HG1!), we established our long-term strategy (April 19, see chart below), which involves a new Bull Cycle, through a Channel Up pattern similar to 2020 - 2021: So far the plan goes flawlessly, as the price hit the top of the (green) Channel Up and is now pulling back. The 1W MA50 is about to complete a Golden Cross with the 1W MA200, the first one since January 11 2021! On the shorter term (current chart on 1D) the price is approaching the 1D MA50 (blue trend-line), which is the short-term Support but as with last time, we expect it to marginally break before Copper bottoms and makes a new Higher Low on the long-term Channel Up. To those who missed an early buy, we recommend entering once the 1D RSI hits its Support Zone. Our medium-term Target is 5.200 (Resistance 1). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
COMEX:HG1!Long
by TradingShot
COPPER New Bull Cycle confirmed. 6.7600 possible.Copper (HG1!) has emphatically broken above the last Resistance of the 2-year Bear Cycle as it smashed through the top of the long-term Triangle pattern. The same pattern kept Copper on a Bear Cycle up until June 2020 when it started the remarkable rally to the 5.000 High (1.786 Fibonacci extension). As you can see on both fractals, the formation of a Death Cross on the 1W time-frame signaled the bottom (Feb-March 2020 is the COVID crash exception, if that hadn't happened, the Triangle could have even broken upwards earlier). Our minimum Target on the emerging (green) Channel Up is 6.7600 (Fibonacci 1.618 extension). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
COMEX:HG1!Long
by TradingShot
1
COPPER Best sell entry of the year.Copper (HG1!) has entered the 3.9740 - 4.0235 Resistance Zone that has been in effect since May 01 2023. It has provided the rejections of August 01 2023 and December 27 2023, with the latter hitting the 0.618 Fibonacci retracement upon its reversal and the former the 0.786 level. Technically the current 1D CCI pattern is almost identical to the one that preceded the August 01 2023 peak. We will pursue Target 1 at 3.800 (Fib 0.618) and Target 2 at 3.7400 (Fib 0.786). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
COMEX:HG1!Short
by TradingShot
1
COPPER Sell opportunity within a Channel Down.Copper (HG1!) is trading on its 1D MA50 (blue trend-line), on a Bullish Leg following the February 09 2024 rebound. That was a Lower Low within the Channel Down that started in December. The long-term pattern is a Falling Wedge and being much closer to its top, after the January 31 2024 than its bottom, this is a strong sell opportunity. The August 2023 Lower High rejection initially hit the 0.786 Fibonacci retracement level before making a Lower Low much later. As a result our target is 3.6250, which is just above the0.786 Fibonacci level and a technical Lower Low for the short-term (blue) Channel Down. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
COMEX:HG1!Short
by TradingShot