Topics Columnists

Trending Topics

Russia-Ukraine Conflict

The war between Russia and Ukraine continues, and it is difficult for the two sides to reach an agreement in negotiations. Western countries have imposed several rounds of sanctions on Russia. The outlook is unpredictable.

The Fed

The Federal Reserve (Fed), or the central bank of the United States, is responsible for regulating the U.S. monetary policy and interest rates. As a provider of liquidity for world trade, the Fed is also known as the world's central bank. Its every move affects the global economy and financial markets.

China-U.S. Relations

Focus on Pelosi's Taiwan Visit ! How will China-U.S. relations develop in the future, win-win cooperation or confrontation?

FastBull Spotlights

Pick the most insightful news around the world for you!

Top Columnists

FastBull Featured

The latest breaking news and the global financial events.

FastBull

Hi there! Are you ready to get involved into the financial world?

Devin

I have 5 years of experience in financial analysis, especially in aspects of macro developments and medium and long-term trend judgment. My focus is maily on the developments of the Middle East, emerging markets, coal, wheat and other agricultural products.

Winkelmann

7 years of stock market, foreign exchange, precious metal and other trading and analysis experience, based on fundamental, technical support, biased towards the top-down transaction logic, focusing on macro cycle and risk control, multi-purpose supply and demand theoretical prediction price Changes, balances the impact of transactions, chips distribution and market sentiment, and steady.

Trading AcademyTradersDaniel Market Outlook

Latest Update

XRP Went Wild, Why? Ted Cruz Tried to Block CBDC?

The bankruptcy case for Celsius has approved a settlement plan for custody account holders, allowing them to receive 72.5% of their crypto holdings. XRP had a 30% surge as Ripple defendants heralded a positive view in their case with the SEC. U.S. Senator Ted Cruz and Florida Governor Ron DeSantis spoke out against the establishment of a CBDC.

Simple Strategy That Generates 70x Gains In 20 Trades!

We used Python to create a simple trading strategy based on the 200-day SMA and RSI indicators. We backtested this strategy on several popular cryptocurrencies and achieved impressive returns. Join us to learn more about the results of this experiment.

Cathie Wood’s ARK Raised $16M for Crypto! NFTs are Abandoning Solana Platform?

Cathie Wood's fund, ARK, has launched a private crypto fund and raised $16.3 million, and possibility to buy bitcoin, because of she prefers decentralized and transparent investments.Solana-based NFT marketplace Formfunction has closed due to the decline in Solana NFT prices and trading volumes.

SVB and Signature Banks Collapsed?

Signature Bank and Silicon Valley Bank, have caused concern about systemic risk in the U.S. banking sector. Regulators have acted quickly to protect depositors, but will the Fed continue to raise interest rates in March?

Data Warehouse Market Trend Institutional Data Policy Rates Macro

Market Trend

Speculative Sentiment Orders and Positions Asset Correlation

Popular Indicators

Trading Signals

Recommended Signals

Recent Searches
    Trending Searches
      Quotes
      7x24

      View All

      No data

      Scan to download

      Faster Financial News and Market Quotes

      Download App
      Invite Friends

      COPPER: Risk Faded, Short the Lows

      Commodity
      Summary:

      Panic has been stabilized for the time being and investors' trading logic may shift to the fundamentals of the copper market.

      Buy COPPER
      End Time
      CLOSED

      8550.000

      ENTRY PRICE

      8900.000

      TGT PRICE

      8300.000

      SL PRICE

      8981.545 +0.600 +0.00%

      62345

      Points

      Profit

      8300.000

      SL PRICE

      8612.345

      CLOSING

      8550.000

      ENTRY PRICE

      8900.000

      TGT PRICE

      Fundamentals

      Macroscopically, Wall Street stepped in to bail out First Republic Bank, and market risk aversion eased after 11 major banks jointly injected 30 billion USD. However, the ECB ignored the banking crisis and announced last night that all three major interest rates would be raised by 50 basis points, exceeding market expectations. Besides, the probability of the Fed raising interest rates by 50 basis points next Thursday is increasing again, while the retracement of copper is also limited.
      For inventories, SMM China's mainstream regional copper inventories fell by 8,700 tons from Friday to 0.2624 million tons on Monday, with total inventories now up 65,800 tons from 0.1966 million tons before the Chinese New Year and down 67,500 tons from the post-holiday high. In addition, Electrolytic copper stocks plummeted in all regions of China over the weekend and are expected to keep falling. 
      On the supply side, the Cobre Panamá copper mine is back to normal after the Panama Maritime Authority lifted its suspending order against the First Quantum Minerals' loading operations at the port of Punta Rincón. Meanwhile, the latest report released by the World Bureau of Metal Statistics (WBMS) showed that in January 2023, global refined copper production was 2.2811 million tons and refined copper consumption was 2.3482 million tons, leaving a supply shortfall of 67,100 tons. 
      Regarding news, as reported in the foreign news on March 16th, the European metal industry agreed with the EU's move to list copper and nickel as strategic materials for the first time on Thursday and to ensure faster access to permits and easier access to capital. Moreover, copper is used in renewable energy systems and electric vehicles, while nickel is a major component of many electric car batteries.
      In general, the ECB raised rates by 50bp as expected despite the Credit Suisse crisis, boosting the probability of a 25-50bp Fed rate hike in March. Overnight, the stock markets in Europe and the US rallied, stabilizing the panic temporarily, but external expectations are unstable, and market volatility amplified. Furthermore, China's domestic economic data in January and February are better than expected, and the recovery is expected to persist. Besides, March and April are hot months for consumption, and copper's fundamental is stronger, with the downstream buying at lows, the inventory is reaching the inflection point, and thus the copper price will be supported. For aggressive traders, it is better to buy at lows with small positions.

      Technical Analysis

      Referring to the daily chart, copper rebounded with oscillations after descending, indicating a weak trend. Recently, copper arrived at the lower section of the triangle channel, falling below the two-day low of 8483 and once touched the lowest point at 8439, which was the starting point of the year's appreciation. Today, copper stabilized and rebounded after gaining support at this position, and it is expected to surge to 8900 if the decline is stopped. Currently, MACD's opening is heading below the 0-axis, and copper is weak in the short term. Nevertheless, aggressive traders shall go long at lows with small positions along with the channel's low.COPPER: Risk Faded, Short the Lows_1

      Trading Recommendations

      Trading direction: Long
      Entry price: 8550
      Target price: 8900
      Stop loss: 8300
      Support: 8650/8400
      Resistance: 8900/9200
      Risk Warnings and Investment Disclaimers
      You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or signal, or any other product is suitable for you based on your investment objectives and financial situation.

      Quick Access to 7x24

      Quick Access to More Editor-selected Real-time News

      Full Access to Pro Video Channel

      FastBull project team is dedicated to create exclusive videos

      Real-Time Quotes

      View more faster market quotes

      More comprehensive macro data and economic indicators

      Members have access to entire historical data, guests can only view the last 4 years

      Member-only Database

      Comprehensive forex, commodity, and equity market data

      King Ten

      Analyst

      Focus on macroeconomic analysis with extra attention to the geopolitical impact on financial markets.

      Rank

      6

      Articles

      233

      Win Rate

      62.77%

      P/L Ratio

      0.34

      Focus on

      WTI, COPPER, XAUUSD

      Related Analysis

      XAUUSD: Risk Appetite Improves, Recommend Not to Long in the Short Term 

      PENDING

      COPPER: Rapid De-Stocking Support Copper Prices

      PENDING

      XAUUSD: In the Midst of a Short-Term Correction, or a New Rally Is Brewing

      PROFIT +1035 Points

      WTI: Weakly Stabilizing, Long after Retracement

      PENDING

      XAUUSD: The Trend Remains Unchanged, While the Highs May Fluctuate

      PROFIT +2567 Points
      English
      English
      简体中文
      繁體中文
      العربية
      TelegramInstagramApp StoreApp StoreGoogle Play
      Copyright © Fastbull Ltd
      Home News Columns AI News Economic Calendar Quotes Videos Data WarehouseAnalysis AI Signals Pro User Agreement Privacy Policy About Us

      Risk Disclosure

      The risk of loss in trading financial assets such as stocks, FX, commodities, futures, bonds, ETFs or crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.

      No consideration to invest should be made without thoroughly conduct your own due diligence, or consult with your financial advisors. Our web content might not suit you, since we have not known your financial condition and investment needs. It is possible that our financial information might have latency or contains inaccuracy, so you should be fully responsible for any of your transactions and investment decisions. The company will not be responsible for your capital lost.

      Without getting the permission from the website, you are not allow to copy the website graphics, texts, or trade marks. Intellectual property rights in the content or data incorporated into this website belongs to its providers and exchange merchants.