Copper – 15 July 2022

Copper is a metal that man has used for hundreds of years for a variety of purposes. But today, thanks to its conductive properties, its applications are mainly in the creation of electrical wires, plumbing, and industry.

This commodity has remained at relatively low values, but at the beginning of the pandemic saw a great appreciation, with this good performance seeing its value double by the beginning of 2022.

However, fears of an economic downturn and interest rate hikes by major central banks to control rising inflation led to a very negative first half of 2022 for copper.

Source: Tradingview/COMEX

With the current geopolitical conflict in Europe with no end in sight and difficult inflation control, a rather negative outlook for the global economy remains.

In terms of opportunities, in our opinion and positioning, we see zone X1 as a potential zone of interest to continue the decline. As a target, it would be zone X2, at least until the end of this year.

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