Ultima Markets【 Market Analysis 】 Copper bullish trend is approaching, or due to adjustment4wave

todayUltimaMarkets Bringing you 2024year 2month 20Japanese copperIn depth analysis.

Fundamental points

• 铜供应紧张：作为世界著名的大型矿业公司，必和必拓表示目前预计精炼铜出现短缺，2024年铜精矿供应将非常紧张。
• 需求正在上涨：尽管美国1月通胀创四个月来最大涨幅，降息预期消退一度令金属价格承压，但是全球PMI回升指向消费改善，低位库存去化刺激工业金属价格向上。考虑到供应趋紧及消费改善双重驱动，铜价迎来喜人势头。
  

technical analysis

Daily chart analysis

Copper daily chart, sourceUltima Markets MT4）

• Random oscillation index：春节期间分享的铜趋势在本周迎来确认突破。指标在超卖区域发出多头信号后，铜价反弹势能或已变成反转上行。指标目前受阻于50中位线，铜价短期或将面临调整。
• 均线的支撑：蓝色33日均线和黑色65日均线联合组成了强支撑位，铜价短期回调目标看向均线一带。
  

1Hour chart analysis

Copper1Hour chart, sourceUltima Markets MT4）

• Upward channel line：铜价自上周确认反弹趋势，形成上行通道线，昨日开始调整下跌至上行通道线附近，铜价存在一定的受阻可能。
• Elliott Wave Theory ：基于前期反弹的波浪结构来看，汇价目前或处于浪4调整中，关注下方斐波那契回撤位的38.2%。该区域也是黑色65周期均线一带。若继续下跌，跌破浪1终点3.7263一带，则铜价上涨趋势彻底终结。
  

Trading CentralHub Line Indicators

Copper30Minute chart, sourceUltima Markets APP）

• according toUltima Markets APPInTradingCentralHub line indicators, central price range for the day3.8410，
• 3.8410Upward bullish, first goal3.8685Second objective3.8845
• 3.8410Under bearish, first target3.7825Second objective3.7665
  

Disclaimers

The comments, news, research, analysis, pricing, and other information contained in this article can only be considered as general market information and are provided solely to assist readers in understanding the market situation and do not constitute investment advice.UltimaMarketsReasonable measures have been taken to ensure the accuracy of the data, but the accuracy of the data cannot be guaranteed and can be changed at any time without notice.UltimaMarketsWe will not be responsible for any losses or losses (including but not limited to any loss of profits) that may arise from the direct or indirect use or reliance on such information.