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Copper; Fundamental Vs Technical Analysis

 

Russia pulling out of Ukraine on Feb 15 is a good news, which is reflected in Rubble clearly, and if there is more stability in the region and both sides do respect the cease fire unlike the past few times, it is a good news for copper demand, because recent events have resulted in the enormous infrastructure destruction.

 

Copper demand is pressed for the time being as traders are waiting for the Greece saga to end and hopefully both parties will find a way to come out of this deadlock situation and this could renews vows for copper demand in the Eurozone.

 

 We also have the jobs data in the US and another positive reading for this could make the dollar stronger, which in the short term, could have a negative influence for the metal.

 

 Technical analysis

Copper 12-02-2014C

 

The support for the metal is near the 2.416 and the resistance is at 2.725.

 



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