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Copper Technical Analysis – The sentiment remains cautious
The price action in copper remains choppy as the market continues to question Chinese economic growth and stimulus. On the other hand, we have also Trump’s victory and fears of a trade war. Copper has been tightly correlated to the Chinese stock market in recent years which just shows the strong dependence of the commodity to the Chinese economy. That should not be surprising given that China is responsible for more than 60% of global copper demand. The recent data out of China did show a little improvement even though it’s too early to draw conclusions. On the other hand, Trump will likely focus first on tax ... (full story)
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- Posted: Nov 11, 2024 10:00am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 121
