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Xcuusd (Copper)

Copper (XCUUSD) Trading Plan & Potential Drop hey guys, pay attention to copper today! currently, the price has reached a key structure resistance level and we have a potential opportunity for short! pay attention to a horizontal decision range on 1H and sell in case of a bearish breakout of it (1H candle close below 2.172! stop will be above the higher high within the channel! target levels: 2.11 / 2.04 in case of a bullish continuation and candle close above 2.24 setups will be invalid! please, support the idea with like and comment! thank you!
OANDA:XCUUSDShort
by VasilyTrader
6
COPPER OUTLOOK - XCUUSDCopper has been trading in a bearish channel since 2011 right after bouncing off from the ascending resistance of the ultimate bullish channel. The first corrective wave in the blue bearish channel ended last year and price failed to break out to the upside. A critical price level has been broken and this will potentially expose the copper price to a further downside. I had forecast this short setup last year and I have now updated my chart. My first and second price target at $2.32/lb and $1.98/lb respectively were successfully achieved last week. If price breaks my 161.8% fib level, I expect price to reach my third target at $1.29/lb.
OANDA:XCUUSDShort
by Timgucci
Dr. Copper Back at Key Zone. Recessionary Trends Incoming?Copper is back at the major 2.50 zone I have spoken about in the past. Here is a weekly chart to show you how crucial it is: Copper of course is known as Dr. Copper due to it indicating the health of the world economy. And of course China consumes more than 50% of the copper supply. On the daily, we had multiple swings on an uptrend but recently, had a big fall from the 2.86 zone back to this key zone of 2.50. We have yet to make our first lower high swing in this downtrend. This swing could be forming at 2.62, but it requires a break and close below recent lows, taking us below 2.50. We know how coronavirus has impacted China, but perhaps copper has not priced in the recessionary trends that will come if this virus worsens. Less people travelling, less people spending money, supply chains getting disrupted all will lead to recessionary trends. We could see this break here in Copper.
OANDA:XCUUSD
by Uncharted-FX