Copper - Tariff affect ?

[maxinger]

Unless I'm stupid, this looks like a classic double bottom ...no ?

doesn't seems like it is reversing to go up.
highs getting lower and lower.
next target perhaps 2.50. if that cannot support, then next target 2.0

 

[themickey]

Copper futures atm, +1.99%.
Most other metals showing strength except aluminium.

 

[syswizard]

The charts are great except they simply reflect the past.
Any substantial trade negotiations and a rebound in EEM stocks will turn this market around on a dime.
We could even see some limit-up situations....so shorts....beware.

 

[maxinger]

down it goes again with HangSeng leading the way.

 

[syswizard]

Any, any reasonable trade negotiations with China are gonna spark this market north.
Now, I am not saying this is a 100% deal...but shorts should beware.

 

[nillionaire]

This thing took a big dump today on news that was already known. Might need to retest 2.55.

 

[themickey]

This thing took a big dump today on news that was already known. Might need to retest 2.55.

Yep, I think a sh*t storm is brewing, I'm gonna bail out Monday on my metals, USD looks like it is going to launch out of its jack in a box, the lid is gonna explode me thinks.

 

[treeman]

Yep, I think a sh*t storm is brewing, I'm gonna bail out Monday on my metals, USD looks like it is going to launch out of its jack in a box, the lid is gonna explode me thinks.

I think that's right. Being short the metals has done me well so far, and I've been patiently sawing around on the dollar (never exiting). Let's see if it finally breaks out. FWIW the commodities as a whole look really sick. Check out the monthly charts.

 

[syswizard]

Weak commodities doesn't "feng shui" with strong global economies.
The USA is the only thing holding it up right now....in a manner like Atlas holding up the world.
How long can this last ?

 

[themickey]

.... I'm gonna bail out Monday on my metals...

On further reflection going to hesitate on this. Although all the metals futures fell in unison, corresponding metal stocks were rising.
The divergence has me puzzled, but it appears some traders must feel the fall has gone on long enough and maybe prices are sitting down on support levels.
So rather than sell because metals prices fell and USD looks like it is going to pop again, I'm going to wait it out a tad longer, it has never been 100% that when USD moves in one direction commodities go the other way.
I'm also aware, when something looks very obvious, it probably isn't.