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Commodities Briefing - Categorized | Commodity Crisis, Market Moves more

Key commodities drop to new lows

Posted on 23 October 2008

From Stockhouse.com: A number of commodities have broken down through key support levels this morning. Most notably, copper, which is widely viewed as the most sensitive commodity to global economic conditions, fell through $2/lb.

This suggests that significant concerns remain over the health of the global economy. Next potential support levels for copper appear near $1.70/lb and then $1.50/lb. Crude oil, meanwhile, broke down through $70/bbl and into a previous support zone between $62 and $68/bbl….. Full Article: Source


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