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Copper Technical Analysis
Copper recently bounced on a key support zone as the upward trend remained intact. In fact, the Chinese PMIs showed a strong improvement and the US ISM Manufacturing PMI jumped into expansion for the first time since 2022. The PBoC is expected to deliver more policy support this year while the other central banks continue to foresee the first rate cuts in the near future. The pickup in economic activity and the dovish central banks should support the market until we get some slowdown, or the central banks turn back hawkish. On the daily chart, we can see that Copper bounced from the key support zone around the 3.98 ... (full story)