This website is managed by Ultima Markets’ international entities, and it’s important to emphasise that they are not subject to regulation by the FCA in the UK. Therefore, you must understand that you will not have the FCA’s protection when investing through this website – for example:
You will not be guaranteed Negative Balance Protection
You will not be protected by FCA’s leverage restrictions
You will not have the right to settle disputes via the Financial Ombudsman Service (FOS)
You will not be protected by Financial Services Compensation Scheme (FSCS)
Any monies deposited will not be afforded the protection required under the FCA Client Assets Sourcebook. The level of protection for your funds will be determined by the regulations of the relevant local regulator.
Note: UK clients are kindly invited to visit https://www.ultima-markets.co.uk/. Ultima Markets UK expects to begin onboarding UK clients in accordance with FCA regulatory requirements in 2026.
If you would like to proceed and visit this website, you acknowledge and confirm the following:
1.The website is owned by Ultima Markets’ international entities and not by Ultima Markets UK Ltd, which is regulated by the FCA.
2.Ultima Markets Limited, or any of the Ultima Markets international entities, are neither based in the UK nor licensed by the FCA.
3.You are accessing the website at your own initiative and have not been solicited by Ultima Markets Limited in any way.
4.Investing through this website does not grant you the protections provided by the FCA.
5.Should you choose to invest through this website or with any of the international Ultima Markets entities, you will be subject to the rules and regulations of the relevant international regulatory authorities, not the FCA.
Ultima Markets wants to make it clear that we are duly licensed and authorised to offer the services and financial derivative products listed on our website. Individuals accessing this website and registering a trading account do so entirely of their own volition and without prior solicitation.
By confirming your decision to proceed with entering the website, you hereby affirm that this decision was solely initiated by you, and no solicitation has been made by any Ultima Markets entity.
Copper Prices Break Key Support: Watch for Intraday Rebound
Copper Prices Break Key Support: Watch for Intraday Rebound
In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the COPPER for NOV 13, 2024.
Key Takeaways
Copper position report: The recent decline in copper prices has triggered speculative positions. According to the U.S. Commodity Futures Trading Commission (CFTC), the speculative net long position of COMEX copper futures increased by 1,134 lots to 20,714 lots in the week ending November 5.
The loose environment supports copper prices: Under the expectations of China’s loose policy, the expectations of U.S. interest rate cuts, and the expectations of U.S. fiscal expansion, liquidity and economic expectations may both improve, and copper prices may rise in the first half of 2025; and then they may be under pressure as the U.S. economy declines.
Technical Analysis
COPPER Daily Chart Insights
(COPPER Daily Price Chart, Source: Ultima Markets MT4)
(COPPER Daily Price Chart, Source: Ultima Markets MT4)
Stochastic oscillator: The indicator sends a short signal above the 50 median line, and then the fast line falls rapidly. It has now entered the oversold area, and the slow line is still following behind. In theory, similar patterns mean that the market price has a strong short trend, and it is worth focusing on short opportunities.
Support destroyed: Copper broke through the key support price yesterday – the green 200-day moving average and the upward trend line. After yesterday’s strong break, the market price quickly approached the first target of 4.1370. There is a probability of a rebound in the copper price during the Asian session.
COPPER 1-hour Chart Analysis
(COPPER H1 Price Chart, Source: Ultima Markets MT4)
(COPPER H1 Price Chart, Source: Ultima Markets MT4)
Stochastic oscillator: The indicator has left the oversold area and has repeatedly fluctuated, suggesting that the upward trend is likely to be a rebound structure. It is worth noting when the short signal appears after the indicator rebounds above the 50 median line.
Downward trend line: Based on the probability of a rebound during the Asian session, pay attention to the price behavior near the downward trend line. The resistance is also near the red 33-period moving average.
COPPER Pivot Indicator
(COPPER M30 Price Chart, Source: Ultima Markets APP)
(COPPER M30 Price Chart, Source: Ultima Markets APP)
According to the trading central in Ultima Markets APP, the central price of the day is established at 4.0900,
Bullish Scenario: Bullish sentiment prevails above 4.0900, first target 4.1500, second target 4.1705;
Bearish Outlook: In a bearish scenario below 4.0900, first target 4.0725, second target 4.0550.
Conclusion
To navigate the complex world of trading successfully, it’s imperative to stay informed and make data-driven decisions. Ultima Markets remains dedicated to providing you with valuable insights to empower your financial journey.
For personalized guidance tailored to your specific financial situation, please do not hesitate to contact Ultima Markets.
Join Ultima Markets today and access a comprehensive trading ecosystem equipped with the tools and knowledge needed to thrive in the financial markets.
Stay tuned for more updates and analyses from our team of experts at Ultima Markets.
—–
Legal Documents
Ultima Markets, a trading name of Ultima Markets Ltd, is authorized and regulated by the Financial Services Commission “FSC” of Mauritius as an Investment Dealer (Full-Service Dealer, excluding Underwriting) (license No. GB 23201593). The registered office address: 2nd Floor, The Catalyst, 40 Silicon Avenue, Ebene Cybercity, 72201, Mauritius.
Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.
Thank you for visiting the Ultima Markets website. Please note that this website is intended for individuals residing in jurisdictions where access is permitted by law. Ultima and its affiliated entities do not operate in your home jurisdiction.
By clicking ‘Acknowledge’, you confirm that you are entering this website solely on your own initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website based on reverse solicitation principles, in accordance with the applicable laws of your home jurisdiction.
