Copper drops but prospects remain positive
https://www.home.saxo/en-au/content...-drops-but-prospects-remain-positive-26042023
"For now the metal is currently looking for support, having initially found it ahead of US$3.82/lb, the March low. Additional weakness would bring the 200-day simple moving average, currently at US$3.76/lb, back into play. A reminder that it was the break above the 200-DMA back in January which helped trigger strong momentum buying all the way up to US$4.3550/lb, the current cycle peak from where the price has been drifting lower since. We maintain our long-held and long-term bullish outlook for copper, but with global growth concerns attracting a great deal of attention, the upside may take longer to materialise."
Cheers
These are only my thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional expert
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