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Copper’s outlook? Not good

Posted on 11 February 2014

In the last five weeks copper prices are lower by 6% finding mild support at the 61.8% Fibonacci level just above $3.18. Expectations of a continued slowdown in China has weighed on futures. Since China’s demand accounts for approximately 40% of the world’s copper market, a contraction there will have a major influence on prices.
The latest evidence of this slowdown came in the smaller figures in the purchasers manages index indicating that manufacturing and service sectors are losing momentum………………………………………..Full Article: Source


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