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Copper Technical Analysis - Key support in sight
Copper continued to trade within a symmetrical triangle for months as the uncertainty on the global economy kept both buyers and sellers at bay. The recent more hawkish than expected FOMC dot plot might have given the market a wakeup call that the central banks will keep monetary conditions tight as long as necessary to cause a significant deceleration in economic growth and bring inflation back to target. The higher energy prices are also likely to weigh on the global economy and lead to a quicker deceleration in growth. On the daily chart, we can see that Copper eventually broke out of the symmetrical triangle it ... (full story)