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Copper Technical Analysis
Copper extended the rally into new highs following some positive Chinese data. Moreover, the PBoC Governor Pan recently signalled more monetary policy support to come which should be a tailwind for the market as long as the global growth impulse of the last few months remains intact. The central banks continue to support rate cuts this year although the timing got pushed back a little after a series of higher-than-expected inflation prints. That could raise the risk of a recession, so it will be something to watch out for in the next few months. On the daily chart, we can see that Copper had an incredible rally and ... (full story)