Copper long term analysis
Technical Analysis
Copper is on an historical resistance. If it breaks with enough volume, it will be a good time to go long. Now is "breathing", doing a little bit of correction, we could even say lateralizing with lower volume than before, meaning it is still in uptrend. In the next few weeks we should see if it breaks or not.
Fundamental Analysis
The Fed has pumped a lot of USD in the last year, and even more during the corona crisis, so the fundamentals indicate we should see a rise of the prices in commodities in the next months.
Copper is on an historical resistance. If it breaks with enough volume, it will be a good time to go long. Now is "breathing", doing a little bit of correction, we could even say lateralizing with lower volume than before, meaning it is still in uptrend. In the next few weeks we should see if it breaks or not.
Fundamental Analysis
The Fed has pumped a lot of USD in the last year, and even more during the corona crisis, so the fundamentals indicate we should see a rise of the prices in commodities in the next months.
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