COPPER Analysis: Risk Ahead, Copper May Face Short-Term Correction

Fundamental Analysis of COPPERCOPPER Key Takeaways

• Trump will accelerate copper tariffs: The Trump administration plans to impose tariffs on imported copper in weeks rather than months as widely expected. The news caused the COMEX copper futures contract to soar to a record high on Wednesday, while the gap between the LME benchmark price and the US price hit a record high.
• Arbitrage opportunities may turn into catastrophic losses: The Trump administration plans to impose tariffs on imported copper in weeks rather than months as widely expected. The news caused the COMEX copper futures contract to soar to a record high on Wednesday, while the gap between the LME benchmark price and the US price hit a record high.

Technical Analysis of COPPER Daily and Hourly ChartsCOPPER Daily Chart Insights

(COPPER Daily Price Chart, Source: Ultima Markets MT4)

• Stochastic oscillator:The indicator sends a short signal in the overbought area, suggesting a short-term market price decline. However, it is worth noting that the fast and slow line indicators are entangled, indicating that the current decline is more likely to be an adjustment trend.
• Support area: Copper prices rose strongly on Tuesday, breaking through the pin bar high on Monday. Therefore, this price will become a strong support price for the current trend. If the market price clearly breaks through the 5.0974 area, copper prices will usher in a large correction trend.

COPPER H1 Chart Analysis

(COPPER H1 Price Chart, Source: Ultima Markets MT4)

• Stochastic oscillator:The indicator sends a bullish signal in the oversold area, which clearly shows that copper prices will end the downward trend in the short term during the Asian session and start to rise.
• Oscillating area: After a false breakthrough and a break above the downward trend line, copper prices will continue the bullish trend. However, based on the daily cycle being in an adjustment trend, the rise in copper prices during the day focuses on the resistance price near 5.26 above.

Pivot Indicator Insights for COPPER

(COPPER M30 Price Chart, Source: Ultima Markets APP)

• According to Pivot Indicator in Ultima Markets APP, the central price of the day is established at 5.2635,
• Bullish Scenario: Bullish sentiment prevails above 5.2635, first target 5.3070, second target 5.3330;
• Bearish Outlook: In a bearish scenario below 5.2635, first target 5.1650, second target 5.1390.

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