Hi Traders
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year.
Over the past few weeks I have heard many opinions on the commodity Copper and it's great upside potential. Some economists are even saying that Copper may outperform Gold this year.
So why Copper?
Copper is a precious metal that is often overlooked by investors, despite the fact that itโs one of the most useful and reliable minerals on Earth. Copper has distinctive value in the global market due to its industrial business enterprise worth. Not only is copper a low-risk investment, but it could also yield excellent value to investors. With the reopening of lockdowns, the Chinese government released new guidelines to accelerate clean energy growth, including the construction of major wind and solar farm projects. โThe support from authorities should increase the odds that the renewable energy sector will continue to see strong growth and support the demand for metals such as copper and aluminum,โ analysts at Dutch bank ING noted.
At the same time as traders are anticipating a rapid bounce in demand from China, protests in Peru have the potential to disrupt supply, while Chilean output has fallen. The Chilean Copper Commission (Cochilco) reported that state-owned mining firm Codelco produced 6.1% less copper year on year in April, with production down by 5.8% year to date. The copper market climbed to a five-week high recently as the prospect of tightening supply out of Latin America coincided with Shanghaiโs reopening from Covid-19 lockdown. And now, by using technical indicators and analysis, it seems likely that the price might pullback after recent highs. This could be a great time to diversify and get exposure to this precious commodity.
What are your thoughts on this commodity?
_________________
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CryptoCheck
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year.
Over the past few weeks I have heard many opinions on the commodity Copper and it's great upside potential. Some economists are even saying that Copper may outperform Gold this year.
So why Copper?
Copper is a precious metal that is often overlooked by investors, despite the fact that itโs one of the most useful and reliable minerals on Earth. Copper has distinctive value in the global market due to its industrial business enterprise worth. Not only is copper a low-risk investment, but it could also yield excellent value to investors. With the reopening of lockdowns, the Chinese government released new guidelines to accelerate clean energy growth, including the construction of major wind and solar farm projects. โThe support from authorities should increase the odds that the renewable energy sector will continue to see strong growth and support the demand for metals such as copper and aluminum,โ analysts at Dutch bank ING noted.
At the same time as traders are anticipating a rapid bounce in demand from China, protests in Peru have the potential to disrupt supply, while Chilean output has fallen. The Chilean Copper Commission (Cochilco) reported that state-owned mining firm Codelco produced 6.1% less copper year on year in April, with production down by 5.8% year to date. The copper market climbed to a five-week high recently as the prospect of tightening supply out of Latin America coincided with Shanghaiโs reopening from Covid-19 lockdown. And now, by using technical indicators and analysis, it seems likely that the price might pullback after recent highs. This could be a great time to diversify and get exposure to this precious commodity.
What are your thoughts on this commodity?
_________________
๐ Follow us here on TradingView for daily updates and trade ideas on cryptocurrency, stocks and commodities ๐
๐Hit like & Follow ๐
We thank you for your support !
CryptoCheck
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