CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.91% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing all your money. Read full risk warning.

COPPER

Special Reports - 02/07/2025

02 July, 2025

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

Copper Weekly Special Report based on 1 Lot Calculation:

TECHNICAL ANALYSIS:

  • WEEKLY MOVING AVERAGES POINT TO UPTREND: Copper prices have recently traded above the 20-, 50-, and 100-Week Moving Averages, pointing to an ongoing uptrend. However, Copper prices can also change their trend if prices fall below the 20-, 50-, and 100-Week Moving Averages.
  • LONGER-TERM UPTREND CHANNEL: The black trend lines, describing the uptrend channel, are depicted on the chart below. Copper prices have maintained their uptrend in general since July 2022.
  • RESISTANCE AND SUPPORT LEVELS: Copper has remained in an uptrend, looking at Resistance 1 of $5.30, Resistance 2 of $5.37, and Resistance 3 of $5.50 to the upside. On the downside, Copper looks at Support 1 of $4.95, then towards Support 2 of 4.90$, and Support 3 of $4.85.
  • COPPER HIT AN ALL-TIME HIGH OF $5.3702 (March 26, 2025). Copper currently trades around $5.12, and if a full recovery takes place, then copper prices could see an upside of 4.30%. However, copper prices could decline as well.

GRAPH (Weekly): April 2022 - July 2025

Please note that past performance does not guarantee future results

GEOPOLITICS: TRADE PROGRESS

  • USA-CHINA TRADE DEAL SIGNED (JUNE 27): President Trump announced that the United States and China have officially signed a trade agreement, aiming to de-escalate tensions between the world’s two largest economies. For commodities, the agreement is particularly supportive of copper prices, as improved U.S.-China relations raise expectations for stronger Chinese industrial demand, especially in the construction and manufacturing sectors.

EVENTS (USA):

  • THURSDAY, JULY 3, AT 13:30 GMT+1: US NONFARM PAYROLLS (NFP) AND UNEMPLOYMENT RATE (JUNE): In May, NFP came in at 139,000, while the unemployment rate held steady at 4.2%, the same as in April. If the unemployment rate continues its upward trend (4.0% in January, 4.1% in February, and 4.2% in March, April, and May), it could weaken the US dollar, potentially supporting higher copper prices. Also, a lower-than-expected NFP data increases expectations of future rate cuts, which tend to boost industrial metals like copper due to a weaker dollar.

EVENTS (CHINA):

  • WEDNESDAY, JULY 9 AT 02:30 GMT+1: CHINA INFLATION (CPI) (JUNE): A higher-than-expected CPI reading may indicate strengthening domestic demand and economic activity in China, which could have a supportive effect on copper prices, given China's role as the world’s largest consumer of the metal. If inflation picks up from the previous reading of -0.1%, it could reinforce optimism about economic stabilization and increased commodity demand. (PREVIOUS: -0.1%)
  • TUESDAY, JULY 15 AT 03:00 GMT+1: CHINA INDUSTRIAL PRODUCTION (JUNE): If June industrial data accelerates from May’s 5.8% growth, it would confirm continued momentum in factory activity, which is a major demand driver for copper. (PREVIOUS: +5.8%).
  • TUESDAY, JULY 15 AT 03:00 GMT+1: CHINA GDP (Q2): A reading above the previous 5.4% growth would reinforce expectations of a stable economic rebound in the world’s largest copper consumer. Stronger GDP growth supports infrastructure spending, manufacturing activity, and overall commodity demand, lifting copper prices. (PREVIOUS: +5.4%)

COPPER, July 2, 2025
Current Price: 5.12

COPPER

Weekly

Trend direction

UP

Resistance 3

5.50

Resistance 2

5.37

Resistance 1

5.30

Support 1

4.95

Support 2

4.90

Support 3

4.85

Example of calculation based on weekly trend direction for 1.00 Lot1

COPPER

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

3,800

2,500

1,800

-1,700

-2,200

-2,700

Profit or loss in €2

3,227

2,123

1,529

-1,444

-1,868

-2,293

Profit or loss in £2

2,774

1,825

1,314

-1,241

-1,606

-1,971

Profit or loss in C$2

5,186

3,412

2,457

-2,320

-3,003

-3,685

  1. 1.00 lot is equivalent of 10 000 units
  2. Calculations for exchange rate used as of 11:10 (GMT+1) 02/07/2025

There is a possibility to use Stop-Loss and Take-Profit

  • You may wish to consider closing your position in profit, even if it is lower than the suggested one.
  • Trailing stop technique could protect the profit
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