11.05.2016 - Copper teeters on edge of downtrend, iron ore at key support level
A decent rally in prices of industrial metals like iron ore and copper is unwinding on fears China will slow its rate of economic stimulus. Technical charts show both metals now stand at key points that could signal future price direction. The impressive rally seen in the industrial metals space looks to be unwinding as early indications appear to show China will not continue its rate of stimulus into the second quarter. Both copper and iron ore prices are at key points in the charts, with further downside on the cards if support levels are broken...............................................Full Article: Source
Print