Listen to the latest market mood for the COPPER.
Copper is a commodity that stands to potentially gain from US politics. If Democrat Joe Biden wins he is pledging to invest $2 trillion in green technology. Green technology is very dependent on copper for all the various conducting material that is needed for green technology.
Furthermore, recent supply issues for Copper only stands to further accelerate the demand. So, one chart to pay careful attention to is Coppers with a pullback entry at the 50% – 0.618% Fib retracement level.
- If the Jackson Hole Symposium on Thursday serves as a catalyst for USD strength that will weaken copper prices as it will make copper more expensive for holder of other currencies and will invalidate this outlook.