COPPER: begins a new wave of fall

By | August 31, 2015

Copper after short-term upward correction resumed its decline. In part, this was due to renewed decline today in the stock market of China. In addition, the front (September 1) will publish data on business activity in the industrial sector of the country. Preliminary figures were far from disappointing (47.1 – a minimum of 6.5 years) and signaled a deepening recession. If this trend is confirmed, copper may continue to decline at a faster pace. The fact that Celestial red is the largest consumer of the metal in the world. It accounts for about 48% of global demand. And cooling industry can have a significant merger in the dynamics of demand.

In the district level 2.2650 quotes to form a support. His breakthrough could be a good signal for the resumption of sales of metal. With the passage of this mark the number of short positions may increase dramatically, which will send a quotation on down to the nearest target at 2.1900.

copper charts
Copper charts

Trading analytics

Copper (HG) – sell copper – Entry price: 2,2650. Goal: 2,1900. Stop loss: 2,3310.
Warning: Profitability in the past does not mean profitability in the future. Any projections are for information only and does not guarantee a result.
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