LME copper has clearly broken beneath the lower boundary of the past 10 weeks choppy trading range which if sustained would suggest this to have been a topping process. Technical measurements would signal potential falls towards the 7700 area basis 3 months where renewed demand should then re-emerge. Short term, however a reaction to the recent heavy falls is possible with resistance sitting now at 8230/50.
Copper breaks key supports
- Thread starter cliff@cliff-gre
- Start date
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Cliff-trend
High grade copper looks like silver,SLV[US-volume month & 1 year charts beartrend /downtrend];a gold mining co lost billions [US dollars] by hedging thier gold production.
But another gold/copper co may be doing fine;
they hedged[sold]lots of copper @$4.08/per pound area. So far so good
. Not a prediction, simply probabilities/wisdom.