Bullish on Copper
here is COMEX_DL:HG1!/ECONOMICS:USBCOI*100
This allows us to compare copper to the purchasing mangers index to give a relative chart
Its interesting you can see the potential 3 levels called squaring the range giving a future target if history repeats of approx. 100% from current levels.
We may be lucky and be able to buy copper a little lower but this does not have to happen.
Copper is being bought up by industrial companies directly to the miners
Copper prices are close at current levels to the smaller triangle close to being completed.
AI needs copper, so does AWS, so do the car companies, so do power lines etc,
Dr Copper was the old adage stating that in the first leg up of a new industrial bull market copper is the first mover as industrial companies need to buy it to make products.
with all the new AI companies popping up, it could be a clever investment.
Currently in LME copper is in backwardation so we are running out of copper and there is not enough supply to meet the current levels of demand so the price may move up.
Look at copper / Gold its broken down on the chart too for inflection points
here is COMEX_DL:HG1!/ECONOMICS:USBCOI*100
This allows us to compare copper to the purchasing mangers index to give a relative chart
Its interesting you can see the potential 3 levels called squaring the range giving a future target if history repeats of approx. 100% from current levels.
We may be lucky and be able to buy copper a little lower but this does not have to happen.
Copper is being bought up by industrial companies directly to the miners
Copper prices are close at current levels to the smaller triangle close to being completed.
AI needs copper, so does AWS, so do the car companies, so do power lines etc,
Dr Copper was the old adage stating that in the first leg up of a new industrial bull market copper is the first mover as industrial companies need to buy it to make products.
with all the new AI companies popping up, it could be a clever investment.
Currently in LME copper is in backwardation so we are running out of copper and there is not enough supply to meet the current levels of demand so the price may move up.
Look at copper / Gold its broken down on the chart too for inflection points
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.