Price & Time covers key technical themes daily and can be delivered to your inbox each morning by joining ...
Price & Time covers key technical themes daily and can be delivered to your inbox each morning by joining the distribution list: Price & Time
Talking Points
Copper continues to flirt is important upside pivot
Risk rally almost over or just the beginning?
Dr. Copper in the House?
One of the most overused sayings in financial research is that “Copper has a PHD in economics”. In other words, the metal is a good bellwether for the true state of the global economy because of its widespread use. I think the advent of things like PVC has probably cut a little bit into the metal’s predictive value, but it is still a very useful market to keep tabs on (especially with central banks at war with deflation).
Looking for real-time positioning data? Find out HERE
The 18%+ rally in the metal since January has been accompanied by a more than 50% rise in the price of Brent Crude and an 11% rally in “society’s mood barometer” the S&P 500. The SPX actually managed to finish last week above its 200-day moving average so the obvious question on most technicians’ minds is whether “pro-risk” markets are starting back up for real this time or not. As positive as some of these other markets look, Copper still suggests at least some caution is required as the commodity failed earlier in the month at a confluence of the 200-day moving average, an internal trendline of the August/September lows and the top of the 1-year standard deviation channel. On the positive side, I like where the commodity found support back in January as the 1.94/1.97 area marked a nice convergence of the 78.6% retracement of the 2001 – 2011 advance and a trendline connecting the early 2000’s lows with the 2008 low on the continuous futures chart. If the market is going to mount a more serious recovery then that is probably the spot you want to see it commence from. A confirmed inverse head & shoulders on the daily and weekly charts doesn’t hurt things either, but the market has reached the point “where the rubber meets the road” in a sense as the zone between 2.26 and 2.29 is precisely where one would expect the broader downtrend to try and reassert itself. The next few days/weeks look critical in this regard, as traction over 2.29 opens the door to another important leg higher in the metal and probably in risk. A continued inability to get through there and the odds are we head back down – possibly hard. Stay tuned.
What is the #1 mistake most FX traders make? Find out HERE.
--- Written by Kristian Kerr, Senior Currency Strategist for DailyFX.com
Price & Time covers key technical themes daily and can be delivered to your inbox each morning by joining the distribution list: Price & Time
Talking Points
Copper continues to flirt is important upside pivot
Risk rally almost over or just the beginning?
Dr. Copper in the House?
One of the most overused sayings in financial research is that “Copper has a PHD in economics”. In other words, the metal is a good bellwether for the true state of the global economy because of its widespread use. I think the advent of things like PVC has probably cut a little bit into the metal’s predictive value, but it is still a very useful market to keep tabs on (especially with central banks at war with deflation).
Looking for real-time positioning data? Find out HERE
The 18%+ rally in the metal since January has been accompanied by a more than 50% rise in the price of Brent Crude and an 11% rally in “society’s mood barometer” the S&P 500. The SPX actually managed to finish last week above its 200-day moving average so the obvious question on most technicians’ minds is whether “pro-risk” markets are starting back up for real this time or not. As positive as some of these other markets look, Copper still suggests at least some caution is required as the commodity failed earlier in the month at a confluence of the 200-day moving average, an internal trendline of the August/September lows and the top of the 1-year standard deviation channel. On the positive side, I like where the commodity found support back in January as the 1.94/1.97 area marked a nice convergence of the 78.6% retracement of the 2001 – 2011 advance and a trendline connecting the early 2000’s lows with the 2008 low on the continuous futures chart. If the market is going to mount a more serious recovery then that is probably the spot you want to see it commence from. A confirmed inverse head & shoulders on the daily and weekly charts doesn’t hurt things either, but the market has reached the point “where the rubber meets the road” in a sense as the zone between 2.26 and 2.29 is precisely where one would expect the broader downtrend to try and reassert itself. The next few days/weeks look critical in this regard, as traction over 2.29 opens the door to another important leg higher in the metal and probably in risk. A continued inability to get through there and the odds are we head back down – possibly hard. Stay tuned.
What is the #1 mistake most FX traders make? Find out HERE.
--- Written by Kristian Kerr, Senior Currency Strategist for DailyFX.com
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
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Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
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Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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