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20 May 2015
RBA keeping an eye on bearish copper - BAML
FXStreet (Guatemala) - Bank of America Merrill Lynch noted the price action surrounding Copper of late.
Key Quotes:
"Copper is threatening to resume its l/ term bear trend after stalling into the confluence of resistance between 6321/6635."
"Bears need an impulsive break of 4m trendline support at 5953 to confirm an end to the corrective rally and resumption of the long term bear trend."
"Downside targets are seen to 5279 ahead of 4791; potentially below."
Key Quotes:
"Copper is threatening to resume its l/ term bear trend after stalling into the confluence of resistance between 6321/6635."
"Bears need an impulsive break of 4m trendline support at 5953 to confirm an end to the corrective rally and resumption of the long term bear trend."
"Downside targets are seen to 5279 ahead of 4791; potentially below."