Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Technical Analysis #C-COPPER : 2019-12-09
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="IFC Markets, post: 174206, member: 18359"] [SIZE=6][B]Lower US recession risks[/B][/SIZE] Good labor market data came out in the US. This reduced the risks of a slowdown in the global economy. Will Copper prices continue rising? Nonfarm payrolls in the United States increased by 266 thousand in November, which is a 10-month high. This can significantly reduce recession risks in the US and global economies. In addition, China announced the abolition of certain duties on US goods, which could be a signal of its readiness to continue trade negotiations with the United States. [IMG alt="Copper"]https://ifccd.net/uploads/image/06-12-2019.png[/IMG] On the daily timeframe the [B]Copper: D1[/B] is in an uptrend and has already bounced off from its lower boundary for the 3rd time. A number of technical analysis indicators formed buy signals. The chart breached up the 200-day moving average line. The further price growth is possible in case of an increase in demand for copper in China and the US. [LIST] [*]The [B] Parabolic indicator [/B] gives a bullish signal. [*]The [B]Bollinger bands[/B] have narrowed, which indicates low volatility. The upper Bollinger band is titled upward [*]The [B]RSI indicator[/B] is above 50. It has formed a positive divergence. [*]The [B]MACD indicator[/B] gives a bullish signal. [/LIST] The bullish momentum may develop in case [B]Copper[/B] exceeds the three last fractal highs at 2.74. This level may serve as an entry point. The initial stop loss may be placed below the lower Bollinger band at 2.59. After opening the pending order, we shall move the stop to the next fractal low following the Bollinger and Parabolic signals. Thus, we are changing the potential profit/loss to the breakeven point. More risk-averse traders may switch to the 4-hour chart after the trade and place there a stop loss moving it in the direction of the trade. If the price meets the stop level (2.59) without reaching the order (2.74), we recommend closing the position: the market sustains internal changes that were not taken into account. [SIZE=6][B]Summary of technical analysis[/B][/SIZE] [LEFT][TABLE] [TR] [TD][LEFT][B]Position[/B][/LEFT][/TD] [TD][LEFT]Buy[/LEFT][/TD] [/TR] [TR] [TD][LEFT][B]Buy stop[/B][/LEFT][/TD] [TD][LEFT]Above 2.74[/LEFT][/TD] [/TR] [TR] [TD][LEFT][B]Stop loss[/B][/LEFT][/TD] [TD][LEFT]Below 2.59[/LEFT][/TD] [/TR] [/TABLE][/LEFT] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…