After the next rate hike was confirmed for May, commodities and equities alike took part in a sell-off.
Copper, like silver, was very volatile. However, I think that the next interest rate hike has already been priced into commodity prices. The reaction to the Ukraine invasion has been sold off again and is again reaching the pre-level.
From a technical point of view, one can see a lot of bullish supports. This includes a semicircle undercircle and a bullish triangle in pattern form.
However, should the circle fail, we still have the triangle's hypotenuse as support.
From a fundamental point of view, there are also bullish arguments. Due to the zero-Covid policy in China, it may well be that the effects on the transport chains will be felt again later in hindsight.
If you have anything to add, please write it in the comments.
Thank you for your attention
Copper, like silver, was very volatile. However, I think that the next interest rate hike has already been priced into commodity prices. The reaction to the Ukraine invasion has been sold off again and is again reaching the pre-level.
From a technical point of view, one can see a lot of bullish supports. This includes a semicircle undercircle and a bullish triangle in pattern form.
However, should the circle fail, we still have the triangle's hypotenuse as support.
From a fundamental point of view, there are also bullish arguments. Due to the zero-Covid policy in China, it may well be that the effects on the transport chains will be felt again later in hindsight.
If you have anything to add, please write it in the comments.
Thank you for your attention
