Latest News - China GDP release– beat 7.4% est, hit gov’t target 7.5% Fundamental - China is world’s top copper consumer - China growth concerns dropped prices to almost 4yr lows in March - Chinese gov’t stimulus – improving economy? – prices up 30c per pound from lows - Chinese GDP – some proof of stimulus working – higher commodity demand Technical – Weekly chart - Price made higher low and higher high - Above 21 week SMA - Stuck in range from $3 to $3.40 per pound - Unconfirmed down trendline - Weekly RSI not overbought to 66 yet CMC Markets is an execution only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.
Commodity Snapshot - Will the uptrend in Copper continue after China GDP release?
02:00, 16 juli 2014