HGCOP

Commodities outlook: can gold, oil and metals stay bullish in 2021?

Posted on December 24, 2020 at 2:46 pm GMT

It’s been an incredible year for commodities as the global pandemic has induced some historic moves in the prices of key commodities such as gold and oil. Growth commodities like oil and industrial metals, whose fortunes are more directly tied to economic performance, have rallied hard since March when markets were flooded with stimulus and look set to finish 2020 on a positive note. The safe-haven gold, which had been on the rise long before the pandemic, has not been [..]

Daily Market Comment – Upbeat China PMI lifts mood but dollar holds firm

Posted on November 2, 2020 at 9:42 am GMT

Stocks edge up as Chinese manufacturing rebound gathers pace in October But dollar maintains gains as US election and Fed meeting lurk around the corner Pound slips as England back in lockdown, aussie down ahead of RBA Calm before the storm? Equities got off to a somewhat positive start on Monday as stronger-than-expected manufacturing PMI data out of China provided investors with some respite from the doom and gloom of the pandemic. A quickening in Chinese manufacturing activity in October [..]

Technical Analysis – Copper futures retrace below cloud; bullish bias persists

Posted on October 27, 2020 at 3:58 pm GMT

Copper futures’ recent pullback from the 28-month high of 3.213 appears to have been muted by the 100-period simple moving average (SMA) around 3.068. The retreat slipped under the 50-period SMA at 3.113 and the Ichimoku cloud, where the price seems to have slowed its downward pace. The falling red Tenkan-sen line suggests strengthening negative momentum, while the flattening blue Kijun-sen line is conveying a stalling in the withdrawal from the recent peak. The short-term oscillators reflect the slight improvement [..]

Technical Analysis – Copper futures’ uptrend intact; positive backing present

Posted on August 27, 2020 at 2:47 pm GMT

Copper futures maintain a steady bullish bearing after a bounce on the 50-day simple moving average (SMA), which sent the commodity to a 25-Month peak of 3.040. The rising red Tenkan-sen line is promoting additional advances, while the bullish crossover of the 200-day SMA by the 100-day one may further boost the predominant positive picture. The short-term oscillators also endorse an improving outcome. The MACD and the stochastic oscillator suggest positive momentum is increasing despite the pause displayed in the [..]

Technical Analysis – Copper futures give up some gains; positive picture stands

Posted on June 11, 2020 at 2:48 pm GMT

Copper futures retreated slightly from their freshly plotted four-and-a-half month high of 2.6959. Confirming the bullish sentiment that has mostly controlled the ascent from the 45-month low of 1.9684 are the rising Ichimoku lines. Additionally, the improving 50-day simple moving average (SMA) is endorsing forthcoming advances. The short-term oscillators are positively tilted in spite of the current weakening in positive momentum. The MACD, deep in the positive region, is waning above its red signal line, while the RSI has dropped [..]

Technical Analysis – Copper futures recoil some gains; positive picture stands

Posted on June 11, 2020 at 2:16 pm GMT

Copper futures retreated slightly from its freshly plotted four-and-a-half month high of 2.6959. Confirming the bullish sentiment that has mostly controlled the ascent from the 45-month low of 1.9684 is the rising Ichimoku lines. Additionally, the improving 50-day simple moving average (SMA) is endorsing forthcoming advances. The short-term oscillators are positively tilted in spite of current weakening in positive momentum. The MACD, deep in the positive region is waning above its red signal line, while the RSI has dropped under [..]

Technical Analysis – Copper futures bullish correction under strain

Posted on May 4, 2020 at 3:19 pm GMT

Copper futures’ correction seems to be faltering below the 50-day simple moving average (SMA) and under the 2.3175 level – that being the 38.2% Fibonacci retracement of the down leg from 2.8819 to 1.9684 – as it edges in the Ichimoku cloud. The Ichimoku lines support the bullish run as does the MACD, which is for now, just above its red trigger and zero line. That said, the RSI, just below its neutral threshold, and the falling stochastics back a [..]

Technical Analysis – Copper futures maintain negative outlook despite pullback

Posted on April 15, 2020 at 2:45 pm GMT

Copper futures’ bullish correction from the 45-month low of 1.9684 appears to have lost steam as it approaches the restrictive trend line drawn from the 8½-month peak of 2.8819. Further suggesting that positive momentum is wavering is the RSI that has dipped back below its neutral 50 mark and the stochastic lines, which have reversed ahead of the 80 overbought border. While the MACD, in the negative section, continues to move above its red trigger line suggesting that the price [..]

Daily Market Comment – Wall Street rebound falters again; rush for dollar eases slightly

Posted on March 18, 2020 at 10:01 am GMT

US shares rally on Fed liquidity boost but futures turn negative as virus uncertainty lingers Trump pushes for $1 trillion stimulus as governments step up virus response Dollar funding squeeze eases, giving other currencies a reprieve Stock markets unable to stop the bleeding Stocks were on the slide again on Wednesday as yesterday’s sharp rebound on Wall Street proved unsustainable amid fears all countries affected by the coronavirus are headed for a complete and possibly prolonged lockdown. Such a scenario [..]

Technical Analysis – Copper futures plunge lower to a multi-year low

Posted on March 16, 2020 at 4:31 pm GMT

Copper futures plunged to a fourty-month low of 2.6204 today before buyers resurfaced. The correction in the price was also reflected in the bounce of the RSI on the 30 oversold mark and the recent turn up in the Stochastic blue %K line towards its red % D line just beneath the 20 level. That said, the MACD is declining below its red trigger line in the negative zone and the simple moving averages (SMAs) still display a negative picture [..]

Legal disclaimer: The material does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. XM accepts no responsibility for any use that may be made of these comments and for any consequences resulting in it. No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. The research and analysis does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it.

It has not been prepared in accordance with legal requirements designed to promote the independence of research, and as such it is considered to be marketing communication. Although we are not specifically constrained from dealing ahead of the publication of our research, we do not seek to take advantage of it before we provide it to our clients. We aim to establish, maintain and operate effective organisational and administrative arrangements with a view to taking all reasonable steps to prevent conflicts of interest from constituting or giving rise to a material risk of damage to the interests of our clients. We operate a policy of independence, which requires our employees to act in our clients’ best interests and to disregard any conflicts of interest in providing our services.

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losing all of your invested capital, so please make sure that you fully understand the risks involved.

How can we help?

Live Chat Terms