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Copper!

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Jeremy Naylor and Charles Gibson have a chat about Copper and what's next for the metal. 

 

 

Let me know what you think of their discussion and your trading ideas for copper in the long/ short term. 

We do have this podcast on our spotify, apple and google channel. 

 

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Gibson is a bit of a posh-sounding geezer, I'd rather look at the chart.  :)

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Still waiting for a buy signal, not quite there yet.

Copper_20200718_10_31.thumb.png.d0fd095bd43b21af88085e4395046a2a.png

 

570562549_Copper_20200718_10.31(1).thumb.png.8884047554a9a4d8d0fe505b4ad4b0ca.png

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Get back in long now, canny loons.

Copper_20200720_15_47.thumb.png.f1e5cae17677b592267aad5535a15fc8.png

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Ah, it's a miserable, rainy day in mid-summer and copper sh!ts the bed.

Just beautiful.

Copper_20200722_09_10.thumb.png.73f0df2dbc2a3d59bc374492d1dbdd21.png

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Has copper got its mojo back, Peregrin Took?

Copper_20200728_14_49.thumb.png.399167cb0b2614e1e5ebd4278af9a58b.png

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Let's see if it can clear the hurdle of 6500, toots 😘

 

Copper_20200728_14.50.png

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Copper hoists down its breeches and lets rip, hungry hippo style.

 

Copper_20200730_09.28.png

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6340 ish held, looking for 6700 now 😘

 

Copper_20200804_04.11.png

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Copper has well and truly soiled the bed sheets.

 

Copper_20200807_19.41.png

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Copper looks like it is in a very interesting place. My thinking...

Demand is dropping as factories are slow to get back to work and GDP is falling in the major economies. On a positive note, demand in China, the biggest market, would appear to be coming back.

On the supply side, mining has help up during the response to Covid_19 and supply seems strong. 

Lower demand, higher supply and price at a 2 year high... perhaps a correction is due. I am considering a short position and will start thinking about an entry level.

image.thumb.png.6b200e063d452276de656ffe9857706d.png

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Looks like it is doing an Elliot Wave complex correction at the moment.  Makes me wish I could do EWP properly :P 

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Need to see a move above 6632 before going long and a move below 6227 before going short 🤔

 

Copper_20200813_04.36.png

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Looks like a close below the up trend support, but holding above yesterdays low. For me, I will look for a close below 6227 before attempting a short, just as you also conclude.

image.thumb.png.9e8559c4488d6cd5401614b4193e20b6.png

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Strangely though, I think the chart pattern is an Elliot Wave airplane chasing an inverted cup and handle. I imagine that everyone will be able to see that and will all follow it's trading expectancy, and thus a continued sideways movement will result. 

image.thumb.png.76e1db5ef13ce3c812239ab2b7a677c7.png

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Just now, JJP said:

Strangely though, I think the chart pattern is an Elliot Wave airplane chasing an inverted cup and handle. I imagine that everyone will be able to see that and will all follow it's trading expectancy, and thus a continued sideways movement will result. 

image.thumb.png.76e1db5ef13ce3c812239ab2b7a677c7.png

Or maybe it is the even more special ship and inverted cup pattern.

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Posted (edited)

Canny loon 🤓

 

 

Copper_20200817_14.50 (1).png

Edited by dmedin

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Onward and upward, canny loon 🤓

 

Copper_20200819_07.19.png

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I see your long bias is paying off this week. The news tells me that the refined copper production outlook by Rio Tinto has been cut recently. So a potential shortage of supply. Do you think this is the reason for the recent surge upwards

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That's it for now for copper I guess.

 

Copper_20200820_08.07.png

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Well, Catalina?  Well, Eileen?  Well, Peregrin Took?

 

Copper_20200824_10.53.png

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Well Tom Bombadil, well Peregrin Took, well Samwise Gamgee, well Cleopatra, well Erykah Badu 💃

NHwUix3e

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6 minutes ago, dmedin said:

Well Tom Bombadil, well Peregrin Took, well Samwise Gamgee, well Cleopatra, well Erykah Badu 💃

NHwUix3e

 

Think that's high grade copper or some kind of weird sh!t.

Here's 'common copper' :D

 

Copper_20200828_09.25.png

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