The Wiseguy Report : December Copper HGZ2023
HGZ2023 --
HGZ2023
NEAR TERM : NEUTRAL
VOLUME STRUCTURE
So far, for the month of September, 70% of the December Copper volume has occurred between 3.8400 & 3.7100, with the highest volume occurring near 3.7900.
PRICE ACTION
December Copper has rejected all its previous interest inside the Value Zone & is seeking price balance somewhere near 3.6000 support. While this may appear Bearish at first, which it is, I am taking caution & anticipating an upside correction from this over-sold condition before becoming truly Bearish.
FUNDAMENTAL FACTORS
- Weak USA Housing Market.
---High USA Mortgage Rates
---Low demand for New & Existing Homes
- China's declining demand due to weak economy
HGZ2023 --
NEAR TERM : NEUTRAL
VOLUME STRUCTURE
So far, for the month of September, 70% of the December Copper volume has occurred between 3.8400 & 3.7100, with the highest volume occurring near 3.7900.
PRICE ACTION
December Copper has rejected all its previous interest inside the Value Zone & is seeking price balance somewhere near 3.6000 support. While this may appear Bearish at first, which it is, I am taking caution & anticipating an upside correction from this over-sold condition before becoming truly Bearish.
FUNDAMENTAL FACTORS
- Weak USA Housing Market.
---High USA Mortgage Rates
---Low demand for New & Existing Homes
- China's declining demand due to weak economy
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免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。