Copper takes a deep breath...thank you crude oil...
The reaction in crude oil affected many other commodities, first of all Copper.
Copper was knocking at the very last support at 242.35 cents/lb last week, and all fundamentals add pressure daily.
Technically, if march copper doesn't break the key-point at 264.60 shortly, the pressure will become even bigger and the support @ 242 won't be able to hold anymore...
Why not taking the chance for a new short position? Stop-loss over 265.00 cents, small risk with a BIG profit potential.
www.swisscommodity.com
Copper was knocking at the very last support at 242.35 cents/lb last week, and all fundamentals add pressure daily.
Technically, if march copper doesn't break the key-point at 264.60 shortly, the pressure will become even bigger and the support @ 242 won't be able to hold anymore...
Why not taking the chance for a new short position? Stop-loss over 265.00 cents, small risk with a BIG profit potential.
www.swisscommodity.com