Copper at, what appears to be a key level. It seems to have benefited recently from fed induced "risk on" environment and some mining company mergers. However, it appears that inventories are high. I'd look for info out of china to see what demand is expected. If it wasn't for the fed, I'd be shorting.
Note: the article suggest demand may be a result of consumers holding out for lower prices but that inventories point to future demand.
My question is what report? when? and by whom? triggered the selloff. I'll admit I regurlarly don't follow copper but am starting to incorporate in my analysis of global market conditions. Any input?
