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    Copper- Fundamentals Vs Technical Analysis

    Fundamentals

    Copper is trading lower today ahead of the Yellen testimony and the fact is that we may hear more hawkish tone from her in the light of economic data which we have received so far. A hawkish view by her could make the dollar stronger against base metals and thus could bring trigger more sell off.

    Another fact  which is pushing the copper price lower is the weakness in the copper demand as the manufacturing index in china is still not showing any promising signs.

     

     Technical Analysis

    Copper is trading in a downward wedge pattern on a 60 minute time frame.

    Copper 24-02-2014


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