Copper charts to watch as prices slip below $13,000/t

From think.ing.com

Copper prices have come under pressure in recent weeks as macro headwinds combine with softer physical demand signals. A stronger US dollar, rising energy prices and escalating conflict in the Middle East have triggered a broader risk-off move across financial markets, weighing on sentiment across cyclical assets. At the same time, rising exchange inventories, increasing refined output in China and weaker Chinese import demand suggest the tight market that supported prices in recent months may be starting to unwind. Together, these developments suggest the balance in the copper market is beginning to shift. With ... (full story)