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Copper (HG) Analysis with the Market Profile


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Copper (HG) Analysis with the Market Profile

The following article finalises the initial analysis of the copper futures market based on the recent price developments since it has reached its target level. The analysis considers tools such as the volume profile as well as the market profile and has been conducted using the advanced Sierra Chart template.

Analysis

End of March the copper market made a significant short push representing substantial uncertainty in the market. The market stabilised and built a range (1) which was left on the downside but got immediately recovered (2) illustrating buyer strength. The coming weeks, the market performed a breakout above that range but tested it again, however, was rejected (3) and confirmed the buyers strength.

Copper Futures Market Analysis with the Market Profile by UC Trading

After three voltaile sideways weeks, the market created an inside week (4/5) which was, eventually, broken to the upside with a strong long push reaching the initially suggested VPOC at 2.498 USDas a target level (6).



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About the author


Alexander Kiel has occupied various positions in the area of private banking covering wealth management, portfolio management and management support. Subsequently, he founded the equity investment project Universal Capital and became active as an independent futures trader.

 

He has extended his trading activities with UC Trading in a coaching course providing professional insights into order flow trading.

 

Alexander can be reached via support@uctrading.coach.

 

 

Contributing author since 5/4/2020

 

 

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