{"id":56508,"date":"2010-04-20T14:12:58","date_gmt":"2010-04-20T04:12:58","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2010\/04\/20\/short-term-weakness-in-copper\/"},"modified":"2010-04-20T14:12:58","modified_gmt":"2010-04-20T04:12:58","slug":"short-term-weakness-in-copper","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2010\/04\/20\/short-term-weakness-in-copper\/","title":{"rendered":"Short-Term Weakness In Copper"},"content":{"rendered":"<p>\n\tBy Chris Shaw<\/p>\n<p>\n\tThe technical analysts at Barclays Capital are now cautious on copper for the short-term, suggesting the charts indicate further near-term corrective weakness before any resumption of the larger bull trend.<\/p>\n<p>\n\tAccording to the analysts the daily chart has formed a head and shoulders top, which when combined with bearish divergences indicates prices have reached a near-term high.<\/p>\n<p>\n\tSupport is at US$7,625 per tonne but the analysts suggest any break of this level clears the way for a move to within the range of US$6,850-$7,255 per tonne. This level represents congestion support as it includes the March lows, the February\/March open gap and 14-month channel support.<\/p>\n<p>\n\tResistance near-term is seen from the head and shoulders neck line at US$7,847 per tonne, while a further bullish move requires prices overcoming the right shoulder high at US$7,996 per tonne.<\/p>\n<p>\n\tFrom a big picture perspective the analysts at Barclays suggest the big picture bull trend remains intact, with prices to eventually return to pre-crisis peaks near US$8,620-$8.940 per tonne.<\/p>\n<p>\n\t&nbsp;<\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/copper20-4-jpg.jpg\" style=\"width: 700px;height: 410px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Barclays Capital&#8217;s technical analysts provide short and long term views on copper.<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[23],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/56508"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=56508"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/56508\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=56508"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=56508"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=56508"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}