Important Information

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.

I confirm my intention to proceed and enter this website Please direct me to the website operated by Ultima Markets , regulated by the FCA in the United Kingdom

Important Notice

Ultima Markets does not have an establishment in Singapore and does not operate from Singapore.

Ultima Markets does not provide products or services to citizens or residents of Singapore, and account applications from Singapore citizens or residents will not be accepted.

If you are a citizen or resident of Singapore, please do not open an account or use Ultima Markets’ products or services.

By selecting “Acknowledge and Continue Browsing”, you confirm that you are accessing this website on your own initiative and that your access is not the result of any direct marketing, targeted advertising, solicitation, or promotional activity by Ultima Markets.

Nothing on this website constitutes an offer, solicitation, or promotion of products or services in any jurisdiction where such activity is prohibited. You are responsible for ensuring that your access to and use of this website complies with applicable local laws and regulations.

Acknowledge and Enter the Website
Roll Arrow

Focus on COPPER today – 17th May 2024 

In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the COPPER for 17th May 2024. 

Key Takeaways 

  • Reduced Copper Supply: Copper price remains elevated following the closure of mines in Panama, leading to a deficit in supply and driving up its prices. In addition, Chinese smelters cut their production in March due to shortage of concentrates, further providing upside bias to its prices.  
  • Copper prices take a breather: Recent slump in copper price may likely be traders taking opportunity with recent rise and cash in their profits. Nonetheless, overall bias is still skewed towards the upside due to recent fundamental developments.  

Technical Analysis 

Daily Chart Insights 

  • Stochastic Oscillator: The indicator issued bearish signal after retracing from overbought region, suggesting possible shift towards bearish bias in the near-term.  
  • Elliot Wave: Due to the price recent completion of wave 5 following the issuance of divergence signal, we may see extension in retracement towards both moving average line, which will coincide with the lower boundaries of the channel.  

1-hour Chart Analysis 

  • Stochastic Oscillator:The indicator issued a bull signal yesterday, and copper prices ushered in a short-term rebound trend. Pay attention to whether indicators near the 50 midline will issue a short signal again, and then you can pay attention to short-term short-selling opportunities.
  • Support and resistance: Copper price fluctuated and adjusted yesterday after falling below the red 33-period and 65-period moving average groups. The short-term moving average group will become the rebound resistance of copper prices. Below is an alternative trend line support. The exchange rate needs to effectively break this support level before we can continue to focus on short opportunities.

Pivot Indicator 

  • According to the trading central in Ultima Markets APP, the central price of the day is established at 2280, 
  • Bullish Scenario: Bullish sentiment prevails above 2280, first target 2430, second target 2510; 
  • Bearish Outlook: In a bearish scenario below 2280, first target 2230, second target 2150. 

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. 

Copyright © 2024 Ultima Markets Ltd. All rights reserved. 

Disclaimer   

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.  

Share Now

  • Article Details
  • Article Details
  • Article Details

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.