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COPPER trade ideas

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
Heading into 50% Fibonacci resistance?Copper is rising towards a resistance level which is an overlap resistance that lines up with the 50% Fibonacci retracement and could reverse from this level to our take profit. Entry: 4.5916 Why we like it: There is an overlap resistance that lines up with the 50% Fibonacci retracement. Stop loss: 4.6816 Why we like it: There is a pullback resistance level which lines up with the 50% Fibonacci retracement. Take profit: 4.4468 Why we like it: There is a pullback support level which is slightly below the 61.8% Fibonacci projection. 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
The Dawn of a Copper Wave: Metal Hits Record ValueCopper prices are hitting unprecedented records. On Monday, 20 May, the cost of copper on the London Metal Exchange (LME) reached a record nominal high of $11,104 per metric ton. Moreover, as analysts predict, the metal price are anticipated to double . The main reasons behind copper’s ATH in May There are several reasons why copper prices are confidently increasing. First of all, the rate cut is on the horizon—given the positive statistics from the United States, this will happen very soon. There are a lot of dollars in the world now, and there will be even more when the Fed starts cutting the rate. This phenomenon reduces the currency's value, making everything look more expensive against its background. Lower rates economically mean that commodities prices are growing because of cheaper money. By lowering rates, the Federal Reserve will clearly indicate that the global economy is beginning to recover, which implies that people feel better about their financial situation and can afford to buy more goods, including copper. It is also important to note that the demand for copper is increasing, as this metal is an integral part of the electrification processes. Transition to a green economy also pushes copper prices: the red metal is a necessary material for the construction of capacities, batteries, wind turbines, etc. Thus, the expansion of electric vehicles and renewable energy technologies continues to drive up the need for copper. Economic surge fuels rise in copper prices The leading copper importers, China and the European Union, will buy more copper, boosting prices. These regions have some problems in the economy, and one of the answers to how to solve them is the transition to renewable energy, where copper is preeminent. Continuing the thought about possible rate reduction, copper prices will increase even more when a rate cut happens. Today, we are at the beginning of an economic cycle, not the end—the reduction in rates means that economic growth is anticipated. When we enter the phase of economic development, everything needed for it, for example, commodities, becomes more expensive. What are the copper investment possibilities in 2024? The upward trend of copper prices may attract some investors. Usually, there are three ways to invest: exchange-traded funds (ETFs), futures, and shares of production companies. The choice of a specific format depends on which market you have access to. It also varies depending on how much money you have, your planning horizon, and whether you are a qualified investor. Investing in copper manufacturers might be challenging, though the share prices of mining firms typically correlate with metal prices. For example, there is BHP Group, one of the world's leading mining companies, which derives approximately 30% of its revenue from copper sales as of 2023. Nevertheless, this type of investment requires a keen understanding of market dynamics that can influence prices. As for futures, besides LME, an important venue for trading copper futures is the Chicago Mercantile Exchange (CME), which offers a robust market for copper futures. For investors looking to gain exposure to copper without directly investing in mining companies or futures, ETFs provide a convenient alternative. The Global X Copper Miners UCITS ETF (COPX) seeks to track the Solactive Global Copper Miners Index, which includes companies worldwide engaged in the exploration, mining, and refining of copper. Another option is the WisdomTree Copper, which follows the Bloomberg Copper Index.
SKILLING:COPPERLong
by Julia_Khandoshko
Copper price slumps as traders take profits, where to next? After appreciating over 28% in the past month-and-a-half, copper price slumped overnight. Increased media attention to the rally in copper prices led to the inevitable profit-taking on Wednesday, causing the metal to shed over 5%. The pullback has attracted some buyers to restock at lower prices, but many have stayed on the sidelines waiting for further declines. But many are likely wondering whether the rally seen in past weeks can resume. Fundamentally, copper is regarded as a leading indicator of economic health given its use across many sectors. With resilient economic data globally, but predominantly in the US, markets have been pricing out the risks of a recession, allowing copper to flourish. Another huge tailwind for the metal has been its use in large data centres powering AI demand, which is expected to be a key driver of growth in the future. Despite their slowing demand, the electric vehicle industry has also added to copper’s strengthening. Some analysts at Bank of America even predict a demand deficit if demand for copper continues to grow, which would propel prices higher. The pullback that started on Wednesday was partly due to the release of the Federal Reserve meeting minutes. The key takeaway from them is that the current policy rate is appropriate to ensure that inflation returns to 2%, which suggests not to expect any rate cuts anytime soon. But some members even went as far as to suggest that further tightening could be needed if price pressures fail to reduce significantly, especially given the continued tightness of the labour market. This spooked some investors, which gave copper traders the perfect excuse to start taking some profits. Technically, the setup was primed for a reversal with the RSI having pushed to 78, a key level where corrections have taken place before. The selloff has found a short-term bottom at the 20-day SMA (4.72) which has tracked the lower bound of the price for the past three months. Whether the pullback will continue beyond this level will depend on how traders believe the higher-for-longer rate environment affects the sustainability of the copper price rally. As mentioned above, fundamentals support continued price appreciation so this pullback could be seen simply as a technical correction which will allow new buying interest to appear, even if sellers do take a little bit more room over the coming days.
CAPITALCOM:COPPER
by Capitalcom
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
copper is bullishCopper prices were seen breaking out to their highest levels in two years today. A combination of a weaker US Dollar and developments within the Chinese macro backdrop have helped fuel a fresh wave of buying. Copper futures are now up around 30% off the YTD lows and look poised for further gains with price now trading at fresh YTD highs. The rally in copper prices has seen the market breaking back above the 4.5785 level and back above the prior 2024 highs. With momentum studies bullish and price at fresh highs, the focus is on a continuation higher with 4.84 the next target for bulls.
CAPITALCOM:COPPERLong
by MtICHI
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
Copper - Futures - 6/5/20241. Copper - China - CNY - Yuan COT Report: -66,642 net positions as of 04/30/24 - Yearly High Fundamentals: CNY - Positive Manufacturing PMI (Forecast 50.3, Actual 50.4) Summary: Despite positive PMI, Copper prices faltered, hinting at possible market extremes. Possibility of another turning point. In conclusion, a synthesis of price action, net positions, and news events provides valuable insights for potential turning points in these markets.
CAPITALCOM:COPPERShort
by insanemalin
Copper Extends Gains to Two Year Highs Prices rally around 15% this month and break another threshold, hitting the highest levels in two years. The advance brings the record peak of 2022 in the spotlight (5.041) and given the improved supply-demand dynamics, that level looks within reach. There is optimism around increased need for the non-ferrous metal due to the green energy transition and the recovery of the chip industry, largely fueled by the AI boom. The recent data from China – one of the world’s top consumers - also helped, as GDP rose more than expected in Q1. On the supply side, key mining companies have cut their 2024 production forecasts, while Chinese smelters have reportedly agreed to lower their output. On the other hand, China’s post-pandemic recovery is bumpy and its critical property sector still in distress. The US economy is strong, but the recent preliminary GDP offered a warning sign and sticky inflation raises the bar for looser monetary policy. On the technical front, the RSI is overbought and Copper may be ripe for a pullback. However, daily closes below the EMA200 would be required for the bullish bias to halt and that looks like a toll order, while the downside appears well-protected. 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