Copper Cup and Handle ready to explode to 10,677

12 mai

Copper is an interesting market because it tends to follow the major markets.

It doesn't have that safe haven status feel and every broker quotes Copper differently.

Whether you're trading on US or LSE, it is subjective to the broker.

Right, now it's priming itself for great upside which could signal upside for general markets and indices.

Hopefully, the recession fears may come to an end. But we can only hope.

Once the price breaks above the brim level, the target will set to around 10,677.

Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.

avant-hier

Trade fermée: cible de profit atteinte

UPDATE: Copper target at 10,677 hit - but is there more juice?

Since our last update, Copper hit the target of 10,677! ✅

Now price is cooling off a bit, but it’s still holding beautifully above the 20MA and 200MA, showing the trend’s not done yet.

Momentum looks ready to reignite after this short breather.

As long as Copper holds above 10,400 — the bulls remain in charge.

So yeah… momentum might just rocket again

🌍 Fundamental Reasons Supporting the Upside

🏗️ Global Infrastructure Push:
Governments are doubling down on construction and clean-energy spending — copper demand is booming.

🔋 EV & Green Transition:
Electric vehicles and renewable energy systems need tons of copper. Literally.

🇨🇳 China Stimulus:
China keeps rolling out support to revive manufacturing — a major boost for copper consumption.

📉 Falling Inventories:
Global copper stockpiles remain tight, fueling supply fears.

💵 Weaker Dollar:
A softer USD makes commodities cheaper for buyers, adding another lift to prices.

Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.