{"id":6074,"date":"2023-12-21T11:40:39","date_gmt":"2023-12-21T03:40:39","guid":{"rendered":"https:\/\/www.umtradings.com\/?p=6074"},"modified":"2023-12-21T11:40:39","modified_gmt":"2023-12-21T03:40:39","slug":"focus-on-copper-today-21st-december-2023","status":"publish","type":"post","link":"https:\/\/www.umtradings.com\/vn\/focus-on-copper-today-21st-december-2023\/","title":{"rendered":"Focus on COPPER Today \u2013 21st December 2023"},"content":{"rendered":"<div class=\"wp-block-post-date has-text-color has-black-color has-medium-font-size\"><a href=\"https:\/\/www.umtradings.com\/vn\/focus-on-copper-today-21st-december-2023\/\"><time datetime=\"2023-12-21T11:40:39+00:00\">December 21, 2023<\/time><\/a><\/div>\n\n\n<div style=\"color:#ddd\" class=\"wp-block-genesis-blocks-gb-spacer gb-block-spacer gb-divider-solid gb-divider-size-1\"><hr style=\"height:30px\" \/><\/div>\n\n\n\n<h1 class=\"wp-block-heading has-black-color has-text-color\"><strong>Comprehensive Copper Analysis for December 21, 2023<\/strong><\/h1>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the COPPER for 21st December 2023.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Copper Analysis Key Takeaways<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-medium-font-size\"><strong><a href=\"https:\/\/www.reuters.com\/markets\/commodities\/why-might-panama-cancel-copper-mine-contract-2023-11-03\/\" target=\"_blank\" rel=\"noopener nofollow\" title=\"Copper supply reduction\">Copper supply reduction<\/a><\/strong>: The supply of copper is in short because of political and social opposition. Canada&#8217;s First Quantum Mining Ltd. was ordered to shut down by the Panamanian government, and Anglo American announced it would cut production at its flagship copper business in South America. If the shutdown of copper mines continues for too long, the global copper surplus may be eliminated by 2024.<\/li>\n\n\n\n<li class=\"has-medium-font-size\"><strong><a href=\"https:\/\/www.investopedia.com\/articles\/forex\/051415\/pros-cons-strong-dollar.asp\" target=\"_blank\" rel=\"noopener nofollow\" title=\"Weak U.S. Dollar\">Weak U.S. Dollar<\/a><\/strong>: Recent U.S. dollar weakness has also helped commodities priced in U.S. dollars. Because these goods become cheaper for buyers in other currencies, this will increase demand for commodities in exporting countries.<\/li>\n<\/ul>\n\n\n\n<div style=\"color:#ddd\" class=\"wp-block-genesis-blocks-gb-spacer gb-block-spacer gb-divider-solid gb-divider-size-1\"><hr style=\"height:30px\" \/><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Copper Technical Analysis<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-black-color has-text-color\"><strong><em>Copper <mark class=\"has-inline-color has-black-color\">Daily Chart Insights<\/mark><\/em><\/strong><\/h3>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"690\" height=\"457\" src=\"https:\/\/www.umtradings.com\/vn\/wp-content\/uploads\/sites\/16\/2023\/12\/20231201-\u884c\u60c5\u5206\u6790-1-3.jpg\" alt=\"Copper Daily Chart Insights By Ultima Markets MT4\" class=\"wp-image-6075\" srcset=\"https:\/\/www.umtradings.com\/vn\/wp-content\/uploads\/sites\/16\/2023\/12\/20231201-\u884c\u60c5\u5206\u6790-1-3.jpg 690w, https:\/\/www.umtradings.com\/vn\/wp-content\/uploads\/sites\/16\/2023\/12\/20231201-\u884c\u60c5\u5206\u6790-1-3-300x199.jpg 300w\" sizes=\"auto, (max-width: 690px) 100vw, 690px\" \/><\/figure>\n<\/div>\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-medium-font-size\"><strong>Stochastic Oscillator<\/strong>: Copper prices rose yesterday and broke through the previous high. The final market price still closed below the previous high price, but the indicator did not rise rapidly at the same time, forming a top divergence pattern, suggesting that the market still needs to adjust for a period of time.<\/li>\n\n\n\n<li class=\"has-medium-font-size\"><strong>Joint resistance area<\/strong>: The current resistance area for copper prices is the 61.8% Fibonacci extension of the upward trend since November 13, which is also the area of the previous high price. Therefore, the resistance is strong, and copper prices are still under pressure to adjust in the short term.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-black-color has-text-color\"><strong><em>Copper <mark class=\"has-inline-color has-black-color\">1-hour Chart Analysis<\/mark><\/em><\/strong><\/h3>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"690\" height=\"457\" src=\"https:\/\/www.umtradings.com\/vn\/wp-content\/uploads\/sites\/16\/2023\/12\/20231201-\u884c\u60c5\u5206\u6790-2-3.jpg\" alt=\"Copper 1-hour Chart Analysis By Ultima Markets MT4\" class=\"wp-image-6076\" srcset=\"https:\/\/www.umtradings.com\/vn\/wp-content\/uploads\/sites\/16\/2023\/12\/20231201-\u884c\u60c5\u5206\u6790-2-3.jpg 690w, https:\/\/www.umtradings.com\/vn\/wp-content\/uploads\/sites\/16\/2023\/12\/20231201-\u884c\u60c5\u5206\u6790-2-3-300x199.jpg 300w\" sizes=\"auto, (max-width: 690px) 100vw, 690px\" \/><\/figure>\n<\/div>\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-medium-font-size\"><strong>Top pattern<\/strong>: Copper prices formed a head-and-shoulders top pattern, and the stochastic oscillator also continued to decline during the formation, suggesting that the market will continue to decline in the short term.<\/li>\n\n\n\n<li class=\"has-medium-font-size\"><strong>Stochastic Oscillator:<\/strong> The indicator currently enters the oversold area. After the indicator leaves the area and sends a short signal again, you can focus on short-term selling opportunities.<\/li>\n\n\n\n<li class=\"has-medium-font-size\"><strong>Downward target level<\/strong>: Based on the fact that copper prices have no signs of reversal and decline on the daily chart, the short-term downward target position is towards the green 200-period moving average. If the exchange rate falls further below the previous low of 3.800, the overall upward trend will be destroyed, and copper prices will face a deep downward adjustment trend.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading has-text-align-center has-black-color has-text-color\"><strong><em>Ultima Markets MT4 <mark class=\"has-inline-color has-black-color\">Pivot Indicator<\/mark><\/em><\/strong><\/h3>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"690\" height=\"457\" src=\"https:\/\/www.umtradings.com\/vn\/wp-content\/uploads\/sites\/16\/2023\/12\/20231201-\u884c\u60c5\u5206\u6790-3-3.jpg\" alt=\"Ultima Markets MT4 Pivot Indicator for Copper\" class=\"wp-image-6077\" srcset=\"https:\/\/www.umtradings.com\/vn\/wp-content\/uploads\/sites\/16\/2023\/12\/20231201-\u884c\u60c5\u5206\u6790-3-3.jpg 690w, https:\/\/www.umtradings.com\/vn\/wp-content\/uploads\/sites\/16\/2023\/12\/20231201-\u884c\u60c5\u5206\u6790-3-3-300x199.jpg 300w\" sizes=\"auto, (max-width: 690px) 100vw, 690px\" \/><\/figure>\n<\/div>\n\n\n<ul class=\"wp-block-list\">\n<li class=\"has-medium-font-size\">According to the pivot indicator in <a href=\"https:\/\/www.umtradings.com\/trading\/trading-platforms\/mt4\/\" target=\"_blank\" rel=\"noopener\" title=\"Ultima Markets MT4\">Ultima Markets MT4<\/a>, the central price of the day is established at 3.8562,<\/li>\n\n\n\n<li class=\"has-medium-font-size\"><strong>Bullish Scenario<\/strong>: Bullish sentiment prevails above 3.8562, first target 3.8733, second target 3.9200;<\/li>\n\n\n\n<li class=\"has-medium-font-size\"><strong>Bearish Outlook<\/strong>: In a bearish scenario below 3.8562, first target 3.8090, second target 3.7914.<\/li>\n<\/ul>\n\n\n\n<div style=\"color:#ddd\" class=\"wp-block-genesis-blocks-gb-spacer gb-block-spacer gb-divider-solid gb-divider-size-1\"><hr style=\"height:30px\" \/><\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Conclusion<\/strong><\/h2>\n\n\n\n\n","protected":false},"excerpt":{"rendered":"<p>Comprehensive Copper Analysis for December 21, 2023 In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of the COPPER for 21st December 2023. Copper Analysis Key Takeaways Copper Technical Analysis Copper Daily Chart Insights Copper 1-hour Chart Analysis Ultima Markets MT4 Pivot Indicator Conclusion<\/p>\n","protected":false},"author":13,"featured_media":6079,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[6,11],"tags":[60,56],"class_list":["post-6074","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-technical-analysis","tag-copper","tag-us-dollar"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.umtradings.com\/vn\/wp-json\/wp\/v2\/posts\/6074","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.umtradings.com\/vn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.umtradings.com\/vn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.umtradings.com\/vn\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.umtradings.com\/vn\/wp-json\/wp\/v2\/comments?post=6074"}],"version-history":[{"count":0,"href":"https:\/\/www.umtradings.com\/vn\/wp-json\/wp\/v2\/posts\/6074\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.umtradings.com\/vn\/wp-json\/wp\/v2\/media\/6079"}],"wp:attachment":[{"href":"https:\/\/www.umtradings.com\/vn\/wp-json\/wp\/v2\/media?parent=6074"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.umtradings.com\/vn\/wp-json\/wp\/v2\/categories?post=6074"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.umtradings.com\/vn\/wp-json\/wp\/v2\/tags?post=6074"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}