Despite all the talk about copper demand lately – especially from data centers and the whole AI build‑out – price has basically been stuck in a range since December. That’s not necessarily bad; it actually shows some relative strength versus the other metals, with silver still about 36% below its all‑time high and gold roughly 11% off, while copper has been holding up much better. At the same time, gold and silver charts are also starting to show potential long setups, and with all the headlines about possible US‑Iran action in the coming days, there’s a good chance investors look to hedge more with metals, which could indirectly support copper as well.
We do have important economic data coming out tomorrow, so that’s something to be careful with. The long idea in copper is pretty simple: I’m looking to buy near the bottom of the range, aiming for the top of the range, but I’ll be paying close attention to price action around the middle of the range.
On the 4H timeframe there’s a clear inverse head and shoulders forming, which, if it confirms, would add conviction to the long setup. Trigger is more a matter of personal/system preference: either wait for a small pullback and enter on a lower timeframe, or, for pattern traders, enter on the break of the neckline. Invalidation is also straightforward: either the lows of Tuesday, or for those who prefer a wider stop, the lows of last Thursday.
Let’s see if the setup actually triggers. All the best and have a good trading session.
We do have important economic data coming out tomorrow, so that’s something to be careful with. The long idea in copper is pretty simple: I’m looking to buy near the bottom of the range, aiming for the top of the range, but I’ll be paying close attention to price action around the middle of the range.
On the 4H timeframe there’s a clear inverse head and shoulders forming, which, if it confirms, would add conviction to the long setup. Trigger is more a matter of personal/system preference: either wait for a small pullback and enter on a lower timeframe, or, for pattern traders, enter on the break of the neckline. Invalidation is also straightforward: either the lows of Tuesday, or for those who prefer a wider stop, the lows of last Thursday.
Let’s see if the setup actually triggers. All the best and have a good trading session.
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Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.