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Copper Technical Analysis
The recession in the manufacturing sector in the biggest economies in the world has been weighing on the Copper price. The lack of economic stimuli coupled with low demand and restrictive monetary policies, suggest that we may see even lower prices going forward. In the short term though, China might start to stimulate its economy much more given the risk of deflation, so we might see stable or higher prices going forward. On the daily chart, we can see that Copper got rejected from the 3.9575 resistance where we had also the 61.8% Fibonacci retracement level for confluence. The strong selloff led to a downside ... (full story)