Copper with other base metals have been trading in green
this week and seems like we can expect the trend to continue.
With positive news about US-China trade war where both countries
are seen putting effort to find a solution, we can expect global market to
grow.
 |
| Copper and Zinc investing techniques |
US-China trade war impacted the global growth and we saw
economies suffering in 2018. Entire base metal pack including copper was seen
trading in bearish market.
Analysing the trade war, the Chinese economy is taking more
lumps than the U.S But the U.S. economy may be the one slowing in the second
half as China recovers on huge doses of stimulus.
Because of US-China trade friction, Apple's revenue miss
last week and this highlight that both economies would suffer.
Copper
Copper seems to shine since past days and most analyst are
expecting this shine to stay. We can expect Copper to trade in green along with
sideways trend.
With copper trading in bearish zone, Imperial decided to
shut down Mount Polley mine. Read more Likewise, most copper production mines bear the
hit and have reduced production.
Demand of copper is expected to grow and we can assume
copper to follow bullish trend if negotiations between US and China goes well.
With decline in production of Crude Oil, we can assume India
Rupee to decline and this would definitely support copper and other base metals
Looking at the trade today –
Buy copper at 416 to target of 422 with stop loss of 412.
Positional traders could also look for a target of 430 in upcoming sessions.
Trade with caution since market trend highly depends on US-China trade talks.
Zinc futures –
Zinc has been under-performing metal for quite some time.
Recently, it has gain momentum and this trend would continue.
Buy Zinc around 175.50 with target of 178 in upcoming sessions
and stop loss of 173.
0 Comments
Leave your comments below.