Tracking Economy with this Ratio – Copper vs Gold RatioThe Fed is using the Copper / Gold ratio in tracking economy and its growth.
Currently, the copper / gold ratio is still trending downward, which indicates that the economy may not be recovering that soon.
Copper Oil Futures & Options
Ticker: HG
Minimum fluctuation:
0.0005 per pound = $12.50
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Copperfutures
XCUUSD ( COPPER / USD ) Commodities Analysis 10/01/2023Fundamental Analysis:
china is the biggest copper consumer and as of now we can see the most of its manufacturing plants and factories are getting shut due to Protests and ongoing havoc in the country.
DXY is very bullish which can go up to 130 and ultimately will result in the more price fall in the commodity sections.
World economic Crisis and Supply chain Disturbance which will lead to the Manufacturing Halt.
Technical Analysis:
Bearish Divergence of Price and MACD,
Hidden Bearish Divergence Formation in the process which is a very strong Bearish Trend continuation sign.
Nest Resistance and Potential Pivot Point 9500$
lower Support at 8450%
Bearish Targets: 5800$, 5250$, 4300$
Short-Term Short Trade in CopperAs copper futures might technically drop the leveraged short ETF on copper will rise ...
