{"id":10551,"date":"2021-06-22T08:07:00","date_gmt":"2021-06-22T07:07:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=10551"},"modified":"2021-06-22T14:45:03","modified_gmt":"2021-06-22T13:45:03","slug":"copper-technical-analysis-is-the-pullback-a-buying-opportunity","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/copper-technical-analysis-is-the-pullback-a-buying-opportunity\/","title":{"rendered":"Copper Technical Analysis &#8211; Is the pullback a buying opportunity?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"10551\" class=\"elementor elementor-10551\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0554228 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0554228\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-b1f9e84\" data-id=\"b1f9e84\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-58f3d1d elementor-widget elementor-widget-text-editor\" data-id=\"58f3d1d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>The price of <a href=\"https:\/\/bit.ly\/2PU8sFa\" target=\"_blank\" rel=\"noopener\">copper<\/a> is fast approaching the $400.00 support level as the metals market continues to take a big hit after last week\u2019s more hawkish than expected FOMC policy statement.<\/p><p>Copper has largely been pressured by the strong <a href=\"https:\/\/bit.ly\/3wsfLnp\" target=\"_blank\" rel=\"noopener\">US dollar<\/a> currency since the Federal Reserve\u2019s big shift in thinking towards inflation since last week\u2019s meeting. Trading data shows that strength in the greenback has historically been bad for the price of copper.<\/p><p>Bearish news that the Chinese government is prepared to use its stockpiles of copper to prevent inflation rising too fast is also weighing on copper prices. Essentially, the Chinese government is acting to stop domestic issues arising, as consumers would soon face broad based price rises as copper is needed in many electrical goods.<\/p><p>China relies heavily on social cohesion to keep the wheels of the Chinese Communist Party running smoothly. With its massive population Chinese policymakers know very well that ramping inflation could lead to various forms internal dissent.<\/p><p>Most economists believe that the fundamentals behind copper remain solid despite the FED\u2019s recent hawkish shift and China\u2019s actions. Improving global growth and ongoing underinvestment in the mining industry are key reasons why a pullback under $400.00 could be a buying opportunity<\/p><p>According to the ActivTrader platform some 69 percent of traders are bullish towards copper, meaning that a 19-point drop in bullish sentiment has taken place last week.<\/p><p>With the sentiment bias towards copper still at very high levels, I believe more short-term losses remain possible for the metal. Overall, we may need to see sentiment neutralize before copper can start to rally again.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-735cad8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"735cad8\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-de4483b\" data-id=\"de4483b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1758457 elementor-widget elementor-widget-image\" data-id=\"1758457\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bit.ly\/2PU8sFa\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"301\" height=\"107\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/06\/copper-chart-2.png\" class=\"attachment-large size-large wp-image-10556\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6ed552c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"6ed552c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-83a21db\" data-id=\"83a21db\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-16378bf elementor-widget elementor-widget-text-editor\" data-id=\"16378bf\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>Copper Short-term Technical Analysis<\/strong><\/p><p>The four-hour time frame shows that a large head and shoulders pattern is playing out to the downside, following last week\u2019s major drop decline in the price of copper.<\/p><p>According to the overall size of this typically bearish price pattern copper could be about to drop towards the $390.00 level. This could be a buying opportunity for copper bulls once the pattern reaches its full target.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-e6f9405 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"e6f9405\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-eb2178c\" data-id=\"eb2178c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b4a6fd7 elementor-widget elementor-widget-image\" data-id=\"b4a6fd7\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bit.ly\/2PU8sFa\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"344\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/06\/copper-4h-2.png\" class=\"attachment-large size-large wp-image-10557\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2549628b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2549628b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-60e21ae8\" data-id=\"60e21ae8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1ceb0fbe elementor-widget elementor-widget-text-editor\" data-id=\"1ceb0fbe\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"https:\/\/bit.ly\/2PU8sFa\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d70c0a0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d70c0a0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0431681\" data-id=\"0431681\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-46aae32 elementor-widget elementor-widget-text-editor\" data-id=\"46aae32\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><strong>Copper Medium-term Technical Analysis<\/strong><\/p><p>The larger picture for copper prices \u00a0remains very bullish, and continues to show a massive inverted head and shoulders pattern on the weekly time frame, with the price the neckline of the pattern, around the $400.00 level.<\/p><p>According to the overall size of the bullish reversal pattern, copper prices could still hit the $600.00 level. Seeing as the pattern has not fully played out to the upside yet I think a dip-buying opportunity exists.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-cfc03fd elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"cfc03fd\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-31d6f37\" data-id=\"31d6f37\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-f2ff8e1 elementor-widget elementor-widget-image\" data-id=\"f2ff8e1\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-image\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/bit.ly\/2PU8sFa\" target=\"_blank\">\n\t\t\t\t\t\t\t<img decoding=\"async\" width=\"624\" height=\"345\" src=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/06\/COPPER-1D-1.png\" class=\"attachment-large size-large wp-image-10558\" alt=\"\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-101a202f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"101a202f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3e593dab\" data-id=\"3e593dab\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-405a9f55 elementor-widget elementor-widget-text-editor\" data-id=\"405a9f55\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p><a href=\"https:\/\/bit.ly\/2PU8sFa\" target=\"_blank\" rel=\"noopener\">See real-time quotes<\/a> provided by our partner.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>The price of copper is fast approaching the $400.00 support level as the metals market continues to take a big hit after last week\u2019s more hawkish than expected FOMC policy statement. Copper has largely been pressured by the strong US dollar currency since the Federal Reserve\u2019s big shift in thinking towards inflation since last week\u2019s [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":10553,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[99,109,69,67],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Copper Technical Analysis - Is the pullback a buying opportunity? - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/copper-technical-analysis-is-the-pullback-a-buying-opportunity\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Copper Technical Analysis - Is the pullback a buying opportunity?\" \/>\n<meta property=\"og:description\" content=\"The price of copper is fast approaching the $400.00 support level as the metals market continues to take a big hit after last week\u2019s more hawkish than expected FOMC policy statement. Copper has largely been pressured by the strong US dollar currency since the Federal Reserve\u2019s big shift in thinking towards inflation since last week\u2019s [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/copper-technical-analysis-is-the-pullback-a-buying-opportunity\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-22T07:07:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-06-22T13:45:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2021\/06\/photo-1520811288788-6f2e3da049e0.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"610\" \/>\n\t<meta property=\"og:image:height\" content=\"317\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/copper-technical-analysis-is-the-pullback-a-buying-opportunity\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/copper-technical-analysis-is-the-pullback-a-buying-opportunity\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Copper Technical Analysis &#8211; Is the pullback a buying opportunity?\",\"datePublished\":\"2021-06-22T07:07:00+00:00\",\"dateModified\":\"2021-06-22T13:45:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/youtrading.com\/en\/copper-technical-analysis-is-the-pullback-a-buying-opportunity\/\"},\"wordCount\":441,\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"keywords\":[\"China\",\"Copper\",\"FOMC\",\"US Dollar\"],\"articleSection\":[\"Commodities\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/youtrading.com\/en\/copper-technical-analysis-is-the-pullback-a-buying-opportunity\/\",\"url\":\"https:\/\/youtrading.com\/en\/copper-technical-analysis-is-the-pullback-a-buying-opportunity\/\",\"name\":\"Copper Technical Analysis - Is the pullback a buying opportunity? 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