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Copper Technical Analysis
Copper broke out of the triangle in the first part of the week and triggered a rally into the next resistance defined by a trendline. The recent positive Chinese activity data could have been the catalyst for the breakout which triggered momentum buyers to join the bullish wave. Overall, the picture is still murky, and the global growth outlook is more likely to weaken with the central banks keeping monetary conditions tight. chart On the daily chart, we can see that Copper broke out of the triangle in the first part of the week and rallied into the trendline formed with the fakeout from last August. The price got ... (full story)