BAVARIA FIRST INVESTMENT

COPPER

2010-04-12,

2010-04-12



Copper

We have a strong rally generally thanks to robust data from China as this country's import of this base metal increased 2nd month in a row. Moreover, the weaker U.S currency has a positive impact on copper quotations meaning that the metal become cheaper relatively. Despite all positives mentioned above our recommendation perceives rather short positions than long ones. Especially when the current market is overbought in our consideration. The perfect area for bears should be around $7950 - $8000 with targets 400 or 500 dollars lower, at least.

 

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