Copper Technical Analysis ...Middle East

Copper is still trading inside a major triangle as the fundamental outlook remains murky. The Chinese stimuli had a positive effect in the past months as the data picked up, but this week the PMIs fell again and the Manufacturing sector went back into contraction. Moreover, the economic data in other major economies like Europe is deteriorating pretty quickly as the block is falling into a recession. The US economy remains resilient for now, but recently the labour market data has started to weaken, so that is something that the market will watch carefully. Copper Technical Analysis – Daily TimeframeOn the daily chart, we can see that Copper is still trading inside the descending triangle. T

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