I had a request from member @vim2 for an update on copper. Here's my 10 year weekly chart of $COPPER (spot copper prices). Copper has been gradually moving higher since putting in a divergent low around the beginning of the year & breaking out above this bullish falling wedge pattern shortly afterwards. Prices are currently [...]
This video makes a case for a trend reversal & near-term rally in the US Dollar along with a near-term bearish case for gold, silver, platinum, copper and other dollar sensitive assets, all of which still appear bullish from a longer-term perspective at this time (longer-term bearish $USD).
The Long Trade ideas categories (Setups & Active Trades) has been updated with the following trades moved to the Completed Trade category as they have exceeded their suggested stops. BAA- Traded as low as 0.15 while the suggested stop was on any print of 0.16 or lower. note: I am growing increasingly bullish on the [...]
JJC (Copper ETF) has hit the first target (28.70) for a quick 4% gain, printing a high of 28.83 so far today before pulling back a bit. Consider booking partial or full profits and/or raising stops, depending on your trading plan. T3 (31.44) remains the final target at this time although additional targets may be [...]
JJC (copper ETF) along with copper futures, has broken above the downtrend line & will be added as an Active Long Trade at current levels. note: An additional price target has been added (T1 at 28.70) with the previous targets re-sequenced as T2 & T3. On August 12th, JJC was added as a [...]
Between posting trade ideas, market commentary in addition to my own trading (as well as combing thru dozens of charts today), I don't have the time to post commentary & charts on all significant developments and so I just wanted to share a few things that stand out: GLD, SLV & GDX have all solidly [...]
JJC (Copper ETF) will trigger a long entry on a CLOSE above this steep downtrend line. Stops TBD based upon entry price. Although one could certainly establish a starter position on an intraday break above the downtrend line or even here as spot copper prices are at long-term support on the weekly chart, with the [...]