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Copper Expected to Strengthen - Long TermCopper Weekly – At the beginning of 2011, Copper made a directional change and has fallen more than 50% to date. However, with the copper demand growing, the commodity could be ready to make its next directional change in the coming months. China, the largest consumer of copper, is seeing its economy stabilising once again after suffering during the first half of the year. This had led to copper prices increasing over the last month and demand is expected to increase globally over the next four years. However, there is expected to be a large shortage for this growing demand and Citi Bank has predicted that this will lead to a 40% increase in copper prices. On the technical side, we would be looking for price to break out of the triangle, followed by a break of the $2.30 level. Copper prices along with other metals have had a weak final quarter for the past five years but this streak is highly expected to break this quarter. This would most likely mean a break of the triangle which would be a strong sign of a long term price increase. Alternatively, if price broke below $2, a strong decline would be expected.
OANDA:XCUUSDLong
by priyesh
GOLD AnalysisOn gold, we are inside of a monthly (1238.23-1205.49) and weekly (1243.13-1205.49) demand zones. There is also a daily supply zone formed just above us but this zone working out is low probability. We have 2 alternatives that may happen here; 1- Red: We may go to lower timeframes and look for good buying opportunities right now and ride the price till daily supply zone above. Or, 2- Black: We may wait the daily supply zone to get taken out upwards and wait for a pullback to enter long. tradewithcan.blogspot.com.tr twitter.com
FX:XAUUSD
by Can.Yildirim
PA1. Palladium looks like a solid Buy optionPalladium futures are in a corrective Wave C according to my Wave counter. Broke Daily 200 MA and 200 WMA and looks like now have a clear path forward. Daily RSI may be slightly overloaded so there may be a short correction after the immediate ascending but the ending target of 680 figures looks very reachable. On fundamentals, Palladium hasn´t forwarded the Gold rally therefore has a similar or bigger room to run. Also, looks like there may be a temporal shortage of a supply for this metal: www.metal.com Buy: at current levels SL: 580 TP1: 620 TP2: 650 TP3: 680
NYMEX:PA1!Long
by captain_smollett
1
XAUUSD. Correction waves in playAfter all this huge ascending we had, it is clear that Gold is a Buy: huge sideway channel we had since some weeks ago has been broken upwards and broken well, with a solid confirmation. Now, before going any further, Gold has to correct: lot of mid-term buyers may want to take their profits. I´d expect it to correct to a Fibo 50% line as it looks like a solid support but do not discard going back to the flag line (black) and have some sideway trading there... Notice RSI is heavily overbought on 1H and 4H timeframes, daily and weekly also approaching to overbought zone Entry point: Monday by market SL: 1301 TP1: 1284 TP2: 1273 TP3: 1266
FX:XAUUSDShort
by captain_smollett