
High Impact Events Trading... Gold & Copper 417 replies
COPPER -The bullish commodity 17 replies
Copper, Tin for delivery 2 replies
DislikedCopper on the daily time frame is breaking out of an inverse head and shoulders pattern off of support 2.49 thru resistance 2.74 with strength and a little momentum. Target price 2.96 Downside exit below the 200 day avg {image}Ignored
Disliked{quote} Good call. It is definitely breaking out. Highest levels since July, earlier this year.Ignored
DislikedThe coronavirus is absolutely killing copper. I suspect it'll continue as long as officials can't get it under control. China's economy is going to take a hit. I'll be interested to see if it's reflected in their GDP. At least the GDP they release to the public.{image}
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Disliked{quote} I read a good article today talking about how the Chinese might enact a major stimulus program to boost their economy. His trade of choice: copper! It's a pretty compelling idea I think; provided the virus isn't significantly worse than we know.Ignored
Disliked{quote} Hubei was put on lock down yesterday. I'm not sure any amount of stimulus can help against the spread of the virus. China accounts for about half the global demand for copper and the longer this virus lingers the bigger the drop in copper demand we'll eventually see. I'm surprised copper has held up as well as it has. After falling hard in late Jan, it's rebounded slightly in Feb. {image}Ignored