Copper Technical Analysis - The bearish momentum has waned ...Middle East

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Copper Technical Analysis - The bearish momentum has waned
Fundamental OverviewCopper has bounced on a key support recently and extended the gains this week following the Chinese Caixin Manufacturing PMI as the survey hit the highest level since May 2021. In the last few weeks, the bearish momentum indeed appeared to be slowing as the lower lows became shallower. All else being equal, if we continue to see the pickup in global growth, we could see new highs in the coming months. Indeed, more policy support from the Chinese officials would give the market a stronger boost.Copper Technical Analysis – Daily TimeframeOn the daily chart, we can see that copper eventually bounced on the key 4.35 support where we had also the 50% Fibonacci retracement leve

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