Risk/reward in short and medium term is not playing in your favour.
Copper has been extremely overextended in last 12 months. Current up wave was huge but I think we need to see a correction.
Looking at a weekly bars and although new commodity/metals super-cycle has theoretically just begun but we should see a significant declines and profit taking before next leg up.
If inflation fears will materialize, copper, just like most of the metals should see much higher prices in a long term. But for now if you want to build your position for next 5-10y, wait for correction. My take on copper based on HG futures chart.
Copper has been extremely overextended in last 12 months. Current up wave was huge but I think we need to see a correction.
Looking at a weekly bars and although new commodity/metals super-cycle has theoretically just begun but we should see a significant declines and profit taking before next leg up.
If inflation fears will materialize, copper, just like most of the metals should see much higher prices in a long term. But for now if you want to build your position for next 5-10y, wait for correction. My take on copper based on HG futures chart.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.