Copper has been supported amid a global growth impulse in Q1 due to rate cuts expectations, more PBoC easing and stronger economic data. Yesterday, we got the first bad news as the US PMIs missed expectations by a big margin and the commentary was generally downbeat. Moreover, the recent repricing in interest rates with higher Treasury yields and the US Dollar, might have dampened the optimistic views and be the first signs of another slowdown. The next set of data in May will give us some better clarity. On the daily chart, we can see that Copper eventually broke through the key 4.35 level and extended the rally ... (full story)