Commodities

Is Copper Due For a Spike? Trading In A Equilibrium

Published

3 years ago

July 22, 2021

Copper has been one of the hottest assets to buy in the past few months as Electric Vehicles ramp up, Copper has seen higher demand. If you did not read this article on Copper do so, now.

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Why Could Copper Spike?

Copper which is traded in the futures market under ” /HG “ has been trading sideways for just about a month now. In fact this sideways movement we are seeing comes after the price drifted lower from the highs and then found a equilibrium which we are currently seeing.

From a technical view traders will be watching a few things:

Is it trading in a head and shoulders pattern? If so, will the neckline breakdown?
Is this a start of a downtrend?
Does it gain momentum if it breakout of this current equilibrium range?

July 22nd

Copper is trading 1.23% higher this morning before the US Stock Market opens.

Related Topics:Commodities Copper EV Metals

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Commodities

Commodities: Soybeans Is Trading Near A Key Level

Published

2 years ago

May 22, 2022

Austin Daniels

Grains have saw a BOOM and as commodities tend to trade, we should expect a BUST, right? Well maybe that is not the case yet because Soybeans in trading near a very important level.

Soybeans is trading over 100 points off of Mays low as it is inching closer to the key $1,800 area.

As you can see the chart above, you can see that around 2012 Soybeans was trading near the current levels it is trading at.

This key area is going to be $1789 and above this level could be a nice breakout potentially.

Right now Soybeans currently trades at $1705 but, it has been consolidating for a few weeks now as it has traded in a range around $1600-$1700.

Commodities

Wheat Breakouts Out Of Channel…AGAIN

Published

2 years ago

May 16, 2022

Austin Daniels

Wheat Futures saw a gap up as futures opened last night.

This came after it broke out on Thursday and it has gained momentum Friday followed by a gap up on Sunday.

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Commodities

Soybeans Trying to Breakout Over $1600

Published

2 years ago

February 18, 2022

Austin Daniels

It has been quite the ride for Soybean traders the past few months as it has gone from $1600 back down to $1200 and now back at $1600.

The question is will it be a double top or will it actually breakout above $1600 this time.

First, I want to give credit to our very own @ChartBreakouts on twitter for calling this breakout via twitter.

#SOYBEANS is trying to breakout. pic.twitter.com/qrBkbmv2bD
— Sir Chartist (@ChartBreakouts) December 16, 2021

The Chart

Since Soybeans had bottomed around $1200 it had broken out and not looked back. As you can see this current area is very strong resistance from a few months back and all eyes will be on the $1600 area.

Earlier this week Soybeans did try to gain momentum over $1600 but that was not long lived and in result it fell back below $1600.

This morning Soybeans is currently trading around $1599 and is on watch today to see if demand can come into it and push it higher