{"id":57249,"date":"2010-09-30T11:18:42","date_gmt":"2010-09-30T01:18:42","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2010\/09\/30\/copper-on-its-way-to-us8940\/"},"modified":"2010-09-30T11:18:42","modified_gmt":"2010-09-30T01:18:42","slug":"copper-on-its-way-to-us8940","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2010\/09\/30\/copper-on-its-way-to-us8940\/","title":{"rendered":"Copper On Its Way To US$8940?"},"content":{"rendered":"<p>\n\tBy Rudi Filapek-Vandyck<\/p>\n<p>\n\tCarried by ongoing Fed QE2-market optimism, copper has once again climbed the US$8000\/tonne mountain, and this time with a successful finish. It had been a while since copper was last seen trading above the &ldquo;magical&rdquo; 8k price level (more than two years).<\/p>\n<p>\n\tThe previous attempt, in April this year, preceded a rather sharp sell-down, so what will happen this time?<\/p>\n<p>\n\tTechnical market analysts at Barclays don&#039;t seem too concerned about a repeat of the April experience. Not only remains the team bullish on global equities, it remains bullish on risk assets in general, on a three month horizon, and this includes copper.<\/p>\n<p>\n\tThe analysts do believe that after re-conquering the $8k level, copper is probably due for a breather. They expect some range trading sessions with the metal expected to remain above US$7750\/t. While the short term outlook might look choppy, the analysts believe copper looks bullish for higher prices between now and late December.<\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/Copper_new_2010_high.jpg\" style=\"width: 680px;height: 526px\" \/><\/p>\n<p>\n\tHistory suggests, reports the team, that copper will spend some time in surging above price peaks from the past. So it&#039;s first stop US$8210\/t, and then the market will focus on cracking the next barrier. One at a time, back towards the all-time high of US$8940\/t?<\/p>\n<p>\n\tFundamental analysts at Goldman Sachs and at Macquarie published positive reports on copper&#039;s price outlook this week.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Technical market analysts at Barclays see copper challenging its previous all-time high by December.<\/p>\n","protected":false},"author":3,"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\/57249"}],"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\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=57249"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/57249\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=57249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=57249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=57249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}