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Copper

Copper (HG1!) - Ideahey guys, Yearly inside Bar - possible continuation of uptrend. 4.6400 is THE level to break on a Yearly close. Quarterly: Bearish Candles with a long wick. --> Setup is Bearish Monthly: A shooting star with a bearish Engulfing Candle. Stochastics Bearish -> at a yearly Key Level. This confirms the Quarterly Bearish Bias … Bearish Setup: Sell at a valid Resistance level with a goal to retest the 4.000 and 3.5400 area. Note: This bearish Setup will be invalid with a close above 4.4600 on the Monthly Chart. Thanks for reading
COMEX:HG1!Short
by MeruEU
Copper's Short-Term Demand Woes, Long-Term GapsCopper is known as the electrifying metal. Copper's warm glow and durable spirit, copper wires the heart of many a machine. This reddish rarity has been super bullish in the recent past but less so now. That doesn't make it less investable. Just that nuanced investing approach is called for. Outlook for copper has become mixed once more, with near term demand remaining downbeat given the continued slowdown in the Chinese property market and buildup in copper stock at SHFE. In the longer term, supply challenges risk pushing copper into a supply deficit with major copper miners Codelco and Anglo American facing supply challenges. Given the mixed outlook, copper has continued to trade in a tighter price range over the past two months. Counter to conventional wisdom, a sideways market also presents opportunities for savvy investors. This paper describes the diverging outlook for the red metal and how investors can deploy a calendar spread using CME Micro Copper futures amid the diverging short and long-term outlook. CHINESE COPPER INVENTORIES BUILD UP BECAUSE OF DEMAND SLOWDOWN Chinese copper inventories have surged to one of their highest historical levels. Furthermore, inventories have been rising during the part of the year associated with drawdowns. Source – Bloomberg Lower demand is one of the factors behind the increasing inventories. The Chinese real estate sector is a major consumer of copper. With the ongoing slowdown in the sector, copper demand has been hit hard. Moreover, manufacturing sector in China is also experiencing a slowdown as China’s official manufacturing PMI dipped back into contraction in May. Source: TradingEconomics Combination of property market slowdown and lower industrial activity is hindering copper demand in the near term. Furthermore, refined copper production among Chinese copper smelters has remained near all-time high levels over the past few months. Source: Bloomberg BULLISH SUPPLY SIDE AND INDUSTRIAL RECOVERY POSE UPSIDE TO COPPER While near-term demand outlook may be downbeat, the medium- and long-term outlook for copper remain bullish. In the medium term, higher demand from the rapidly growing PV (photovoltaic) manufacturing and EV industry are absorbing some of the higher copper supply. While both industries have slowed in recent months, analysts expect them to recover. At their current pace of copper consumption, these industries are more than compensating for the slowdown in the property market. Source: Reuters Additionally, major copper miners, Codelco and Anglo American are dealing with lower production. Codelco, the world's largest copper producer, reported a 9.4% decline in production in the latest quarter compared to the previous year. This decline is attributed to falling ore grades, water restrictions, union protests, and logistical challenges exacerbated by the global situation, including the pandemic and geopolitical tensions. Anglo American also announced plans to reduce its copper production in 2024 as part of a strategy to cut costs and adapt to market conditions. Lower output from major copper miners is a cause for concern given the rapid pace at which the new energy industries such as EVs and PVs are growing as well as the rapid growth in data centers which require substantial amount of copper. With inadequate supply, copper supplies face the risk of being pushed into a deficit. ASSET MANAGERS HAVE REVERSED VIEW ON COPPER BULLISHNESS While asset managers had built up substantial long positions during the sharp rally in copper which took price to an all-time high, they have started to close some of those long positions indicating that in the near-term price may have run ahead of themselves. Source: CME QuikStrike Over the past week, September CME options have seen a buildup in puts while calls have declined. The November contract has seen a similar trend. However, the March 2025 contract has seen a surge in call OI. Source: CME QuikStrike In a similar vein, CME copper future’s term structure has shifted from a steep contango to backwardation over the last three months. However, over the past week, this has started to shift once more as premium of later contracts over front month has started to rise leading to a steepening term structure. HYPOTHETICAL TRADE SETUP Given the diverging outlook for copper in the near-term and later term, investors can express a view on the shift in term structure using a calendar spread consisting of CME Micro Copper futures. The below hypothetical trade setup consists of a long position in Micro Copper futures expiring in March 2025 (MHGH2025) and a short position in Micro Copper futures expiring in August 2024 (MHGQ2024). Investors can also deploy the same trade setup using CME full-size copper futures. The CME full-size copper futures also provide a margin offset for the trade, a calendar spread with the same contract can be deployed with maintenance margin of USD 2,500 as of 24/June. The below hypothetical trade setup provides a reward to risk ratio of 1.43x. Entry: 1.011 Target: 1.055 Stop Loss: 0.98 Profit at Target: USD 492 Loss at Stop: USD 342 Reward to Risk: 1.43x MARKET DATA CME Real-time Market Data helps identify trading set-ups and express market views better. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com DISCLAIMER This case study is for educational purposes only and does not constitute investment recommendations or advice. Nor are they used to promote any specific products, or services. Trading or investment ideas cited here are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management or trading under the market scenarios being discussed. Please read the FULL DISCLAIMER the link to which is provided in our profile description.
COMEX:HGH2025Long
by mintdotfinance
Copper Finds Support at Key Tech LevelsAfter hitting record highs in May, Copper has pulled back and heads towards a losing month, challenging critical tech levels. It has slipped below the EMA200 (black line), into the daily Ichimoku cloud and tests the 38.2% Fibonacci of the advance fromthe 2022 lows. This exposes it to 4.196, but sustained weakness does not look easy, technically nor fundamentally. Copper already defends the pivotal 38.2% Fibonacci and tries to reclaim the EMA200. Successful effort would reaffirm the bullish bias and create prospects for new all-time highs (5.200). The favorable supply-demand dynamics also point to further upside. The market has tightened significantly as key miners lower their activity this year, while consumption is boosted by the AI boom and the clean energy transition. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (trading as “FXCM” or “FXCM EU”), previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763). Please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this video are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed via FXCM`s website: Stratos Markets Limited clients please see: www.fxcm.com Stratos Europe Ltd clients please see: www.fxcm.com Stratos Trading Pty. Limited clients please see: www.fxcm.com Stratos Global LLC clients please see: www.fxcm.com Past Performance is not an indicator of future results.
FX:COPPERLong
by FXCM
Could copper rise from here?Price is currently breaking out of a resistance level which is an overlap resistance and could potentially rise our take profit. Entry: 4.4291 Why we like it: There is an overlap resistance level. Stop loss: 4.3607 Why we like it: There is a pullback support level. Take profit: 4.5416 Why we like it: There is a pullback resistance level which aligns with the 61.8% Fibonacci retracement. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:COPPERLong
by VantageMarkets
Could copper rise from here?Price is currently on a support level which is a pullback support and could potentially rise to our take profit. Entry: 4.4291 Why we like it: There is a pullback support level. Stop loss: 4.3607 Why we like it: There is a pullback support level which aligns with the 127.2% Fibonacci extension. Take profit: 4.5824 Why we like it: There is an overlap resistance level. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:COPPERLong
by VantageMarkets
Copper Breaches Key Support but Tech & Fundamentals FavorableThe commodity has registered a notable pullback from last month’s record highs and has now moved below the pivotal EMA200 (black line) and 38.2% Fibonacci of this year’s advance. This pauses the bullish momentum and exposes Copper to the ascending trend line from the 2024 low and the daily Ichimoku Cloud. However, this region could contain the correction and multiple roadblocks follow, making the downside unfriendly, while the RSI points to oversold conditions. As such, we expect Copper to find renewed vigor and push towards 5.000 and eventually new all-time highs (5.200), with the fundamentals also being supportive. The improved supply-demand dynamics have driven this year’s rally and can fuel further strength. There may be some risks in the consumption outlook, mostly form China’s property sector and the slowdown in the pace of EV adoption, but consumption for the metal is set to increase due to the AI revolution and the clean energy transition. At the same time, things don’t look good on the supply side, with major miners slashing their output targets for the year. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (trading as “FXCM” or “FXCM EU”), previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763). Please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this video are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed via FXCM`s website: Stratos Markets Limited clients please see: www.fxcm.com Stratos Europe Ltd clients please see: www.fxcm.com Stratos Trading Pty. Limited clients please see: www.fxcm.com Stratos Global LLC clients please see: www.fxcm.com Past Performance is not an indicator of future results.
FX:COPPERLong
by FXCM
COPPER Going well according to our long-term plan.Last time we looked at Copper (HG1!), we established our long-term strategy (April 19, see chart below), which involves a new Bull Cycle, through a Channel Up pattern similar to 2020 - 2021: So far the plan goes flawlessly, as the price hit the top of the (green) Channel Up and is now pulling back. The 1W MA50 is about to complete a Golden Cross with the 1W MA200, the first one since January 11 2021! On the shorter term (current chart on 1D) the price is approaching the 1D MA50 (blue trend-line), which is the short-term Support but as with last time, we expect it to marginally break before Copper bottoms and makes a new Higher Low on the long-term Channel Up. To those who missed an early buy, we recommend entering once the 1D RSI hits its Support Zone. Our medium-term Target is 5.200 (Resistance 1). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
COMEX:HG1!Long
by TradingShot
Copper: The Next Big Boom - Prices Could Skyrocket to $40,000Hedge fund manager Pierre Andurand predicts that copper prices could surge to $40,000 per tonne in the coming years due to soaring demand. Currently priced at around $11,000 per tonne, copper has already seen a 20% increase this year. The demand is driven by the electrification of various sectors, including electric vehicles, renewable energy sources, military uses, and data centers. Andurand, who manages approximately $2 billion in assets at Andurand Capital, forecasts this dramatic rise based on the doubling of demand growth for copper. He acknowledges that although a supply response is expected, it will take more than five years to materialize. This sentiment is echoed by former Goldman Sachs executive Jeff Currie, who also predicts significant price increases, albeit to a more conservative $15,000 per tonne. The transport sector's copper demand is projected to grow over 11 times by 2050, with electric vehicles alone requiring substantial amounts of copper wiring. Additionally, the expansion of the global electricity grid will necessitate a 4.8-fold increase in copper demand by 2050. The copper supply gap is projected to reach 10 million tonnes by 2030, as per BloombergNEF estimates. Despite not being widely known in the US, Andurand has a solid track record in commodities trading, with his funds experiencing an 83% increase in value this year. The rising copper prices reflect broader trends in the metals market, driven by strong demand and historically low inventories. Significant growth in copper demand is also anticipated from developing countries, particularly China, India, and Indonesia, which are experiencing exponential increases in consumption.
COMEX:HG1!Long
by signalmastermind
Heading into pullback resistance?Copper is rising towards a resistance level which is a pullback resistance and could potentially reverse from this level to our take profit. Entry: 5.1345 Why we like it: There is a pullback resistance level. Stop loss: 5.2178 Why we like it: There is a resistance level which lines up with the 127.2% Fibonacci retracement. Take profit: 4.9594 Why we like it: There is a pullback support level which aligns with the 61.8% Fibonacci retracement. Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
VANTAGE:COPPERShort
by VantageMarkets
1
A Traders’ Week Ahead Playbook • Key event risks for the week ahead. • Nvidia’s Q125 earnings, a key driver of equity markets this week. • Fed speakers could move markets – Powell, Waller, and Jefferson in the spotlight. • US equity markets at all-time highs – fatigued, but well-supported. • Copper, gold, platinum, and silver are all on fire. The key event risks for traders this week We look ahead and eye the key event risk, where I would be paying particular attention to earnings from Nvidia, and speeches from Fed members Waller (he speaks 3 times this week), Jefferson and Chair Powell. We get UK, and Canadian CPI, and will keep a beady eye on the narrative out from the RBNZ meeting, which will keep rates hold but guide on the future direction of rates. We also get manufacturing and services PMIs in the US, UK, Australia, and Europe. UK CPI (due Wed at 16:00 AEST) could get the GBP moving – in either direction – with UK swaps market pricing a near 60% probability of a 25bp cut in the 20 June BoE meeting, and 55bp of cuts by December, and with core CPI expected to fall to 3.6% y/y (from 4.2%) and headline CPI eyed at 2.1% y/y, a lower-than-forecast CPI print could cement a June cut in the market eyes. For those wanting to trade GBP downside, short GBPNZD was the play last week, although, with the RBNZ meeting due on Wednesday, an extension of this trade has risk. Nvidia should beat but by how much? Q125 earnings from Nvidia could get the AI-related semis and the NAS100 firing up (or lower), and even set off moves across other markets too. When the options market prices an 8.6% move on the day of earnings, if this implied move proves to be correct, that’s a staggering $195b in market cap gained or lost in a likely 60-minute window. It would also equate to a -/+0.5% move in S&P500 futures in the after-hours session. We know Nvidia will likely beat the sell-side (investment banks) consensus estimates for revenue, EPS, and gross margins - they always do - but it’s the extent of the beat that matters. Q125 sales are eyed at $24.61b, with Q225 sales guidance expected to come in around $26.72b – one suspects they’ll need to hit us with sales of GETTEX:26B + for Q125 sales and GETTEX:29B for Q225 sales respectively, with CEO Jensen Huang with inspiring guidance to get this pumping like we saw in February. Fed speakers to watch out for The message last week from the Fed was one of patience and this message is likely what we’ll hear from Fed speakers this week as well. Chair Powell, Fed board member Waller and Vice-chair Jefferson will be the central focus here, and their views on inflation and policy could move markets, although broadly, markets feel comfortable with the current pricing of 43bp of cuts priced by December, and we see US 2yr Treasuries holding a range of 4.89% to 4.70%. Last week’s US CPI was encouraging and while this week’s US PMI data could move the dial, notably, if the services print were to surprise and pull below 50 (consensus is at 51.4) it could lift volatility and promote USD sellers. That said, it feels like the market is looking forward to the nonfarm payrolls print on 7 June as the next big piece of the macro jigsaw. US data has been missing the mark on a consistent basis since mid-April and that has led some to say the US economy is moving towards a ‘soft landing’ environment and away from a ‘no landing’ dynamic. Add in solid earnings beats and growth, a renewed belief in the ‘Fed put’ and a world with a huge appetite to sell volatility (the VIX now sits at a lowly 11.99%) - and we have the S&P500, Dow and NAS100 at all-time highs. This is a tough market for those in short positions for more than an intraday day trade, and those positioned for downside would be hoping that Nvidia disappoints in a big way. Nvidia are not a company I would typically bet against, so even though the various US indices look tired, the platform is set for further highs and pullbacks should be shallow. This is true of the HK50/CHINAH indices too, which have had another incredible week of gains. Data in China is lacking this week, so we are fully at the mercy of liquidity and flows. 20k is the near-term target for the HK50 index, but I would consider switching some of HK50 exposure towards the mainland equity markets and the CN50 index, which has broken out and outperformed HK equity on Friday. We’ll see if some of the goodwill towards China can spill over into the ASX200, which saw supply above 7850 last week – should the ASX200 kick through 7860 early I would be looking for a re-test of Thursday’s highs (7900) and even new all-time highs above 7910. Copper on fire The action continues to be in the metals complex – the space is red hot. Copper closed 4.1% higher on Friday, taking the gains for the week to 8.3%, and for the trend-followers and momentum traders, the daily chart is a thing of beauty. Many know the story on reduced copper supply, and those highly focused on the copper scene would be aware of the massive short covering seen in CME futures positioning since mid-February (-42k contracts to stand at +72k) and the widening premium of CME copper to LME copper to $1041 - but the move in copper is momentum 101 and discretionary and systematic players have had to chase. For FX traders, this move in copper remains a huge tailwind for the CLP (Chilean peso), where USDCLP has fallen 9.4% since mid-April. Market players chasing silver, platinum and gold The chase higher from various market players is also true in silver, which had its best week since August 2020, helped by a monster move of 6.5% on Friday, which took price through to the best levels since Feb 2013. Platinum has participated with an 8.8% weekly gain, while gold closed at a new closing high, and eyes the all-time intraday high of $2431.52 – a weekly close above here this week and the FOMO chase could be real. The question of exactly what is driving the gold move above $2400 is one we hear frequently. The fact we saw US real rates (i.e. US bonds adjusted for expected inflation) rise 3bp higher on Friday – typically a headwind for gold - yet gold rallied 1.6% details that there are other factors than rates driving gold flows – these include a broad base rally in metals, central bank buying, increasing Chinese gold holdings (relative to its international reserves), a hedge against ballooning government deficits; it’s all there and it seems we always have to pick a reasoning behind a move after the fact. I have little idea how anyone trades gold short-term from a purely fundamental standpoint. My view is to be a slave to price action, react, align with the short-term trend, and cut quickly when the move goes against you. Anyhow, another big week of market themes and risk to have on the radar. Good luck to all.
PEPPERSTONE:XAUUSDLong
by Pepperstone
1
Cascade Copper may erupt soon!This copper exploration play is in a GREAT position. Tight capital structure in great jurisdictions and with an awesome management team. It could explode any time now -- especially with copper spot reaching all-time highs. If you're bullish copper, look at this now before you miss the boat. They are also exploring for other mineral plays, such as gold. Above .6 cents and this could fly. Side (fundamental) note: Former Alberta Premier Alison Redford is on the board. That is significant.
CSE:CASCLong
by CSGold1
Another of my masterpieces on $COPPER this time long time comingI've been meaning to revisit NYSE:HG for a while now and finally have done so; there have been some very interesting visits to black swan territory on this chart and the short term targets after breaking out from another of those green channels could really be quite high (see 20y ago) Some very notable calls in recent years: SPREADEX:NIKKEI and TVC:DJI both to 40k (over 1y in advance) CRYPTOCAP:BTC pico bottom at 15k and recent local top at 70k FX:EURUSD pico bottom & TVC:DXY pico top at 115 TVC:USOIL pico bottom at 68 NASDAQ:SMCI mega breakout at 100 NASDAQ:NVDA mega support at 120 NASDAQ:TSLA pico bottom at 105 NASDAQ:NFLX pico bottom at 165
COMEX:HG1!
by markusrafferty
Copper Rises to 2+ Year Highs on Improving Supply-Demand OutlookCopper prices have rallied more than 20% this year as the market is tightening, moving above 4.800 for the first time in more than two years. Improving supply-demand dynamics can drive further gains, with the March 2022 record peak now in the spotlight (5.041). Concerns around output are high, as key miners expect lower production this year. At the same time, demand optimism is on the rise, with the AI-driven recovery of the chip industry and the clean energy transition to support usage of the non-ferrous metal. On the other hand, production is still likely to grow this year and there are uncertainties around demand. A key source is China, due to its uneven post-pandemic recovery and the ailing real estate sector. Furthermore, the RSI points to overbought conditions and has not followed the price higher today, creating scope for a pullback. However, a strong catalyst would be needed to challenge the EMA200 (black line) and the bullish momentum. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (trading as “FXCM” or “FXCM EU”), previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763). Please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this video are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed via FXCM`s website: Stratos Markets Limited clients please see: www.fxcm.com Stratos Europe Ltd clients please see: www.fxcm.com Stratos Trading Pty. Limited clients please see: www.fxcm.com Stratos Global LLC clients please see: www.fxcm.com Past Performance is not an indicator of future results.
FX:COPPERLong
by FXCM
1