IO price is Rising to over 40.00 soon .....
IO Futures are 4% UP !!
you are right .. Copper is a bell weather for Metals markets ...and Charts show me Copper has based based out ...and is forming a Bottom.
Do you see the Base forming too ??
A long sideways move along the LOW ..hovering between 204 and 213 ?
The longer the Base is ...the better it looks as the support Bottom...
then ..any decent news .. May break out prices into a new Bullish uptrend...over $2.20..towards a test of the 2.45 tops
http://www.*****net.com/charts/metals/base/spot-copper-60d-Large.gif
http://www.*****net.com/charts/metals/base/spot-copper-6m-Large.gif
In a low OIL price world ..Bigger.. Cars ..Trucks ..Ships ..Planes are popular ..
so its just a matter of time ..before copper and metals demand kicks back in ..to satisfy a growing demand for new cars..trucks ..ships planes . etc.
They will need ..bigger better rds + Freeways ..Bridges ..Shipping ports ..Airports .. Train lines .etc ..to satisfy growing transport demand...due to lower OIL
Iron Ore now in the 30's, page-18
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