1. Fundamental Analysis
- After Chile's announcement about rising copper output, Congo increased production of copper and cobalt.
- Besides, US Treasury yield climbed higher, it directly made US Dollar stronger than currency peer. Therefore, this triggered a wave of sell-off from equities to commodities by funds.
- However, news comes from China that they are targeting GDP growth (at over 6%) are quite impressive. In med tern i think Copper is still good.
But near-term, long liquidation remains in place.
2. Technical Analysis.
After forming the first wave down in daily timeframe (or three waves ABC in H1). I think, Copper will rebounce sharply with three waves up as i draw in my pic.
Of course, we ne to watch close when prices likely break the downtrend in H1 timeframe.
- After Chile's announcement about rising copper output, Congo increased production of copper and cobalt.
- Besides, US Treasury yield climbed higher, it directly made US Dollar stronger than currency peer. Therefore, this triggered a wave of sell-off from equities to commodities by funds.
- However, news comes from China that they are targeting GDP growth (at over 6%) are quite impressive. In med tern i think Copper is still good.
But near-term, long liquidation remains in place.
2. Technical Analysis.
After forming the first wave down in daily timeframe (or three waves ABC in H1). I think, Copper will rebounce sharply with three waves up as i draw in my pic.
Of course, we ne to watch close when prices likely break the downtrend in H1 timeframe.
Penerbitan berkaitan
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.
Penerbitan berkaitan
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.