{"id":58868,"date":"2011-09-20T12:27:10","date_gmt":"2011-09-20T02:27:10","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2011\/09\/20\/copper-looking-for-technical-support\/"},"modified":"2011-09-20T12:27:10","modified_gmt":"2011-09-20T02:27:10","slug":"copper-looking-for-technical-support","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2011\/09\/20\/copper-looking-for-technical-support\/","title":{"rendered":"Copper Looking For Technical Support"},"content":{"rendered":"<p>\n\tBy Rudi <span>Filapek-Vandyck<\/span><\/p>\n<p>\n\tTechnical market analysts at Barclays have had to review their charts and assessments for copper as the price for the red metal, otherwise known as Dr Economy, has weakened further than they thought possible.<\/p>\n<p>\n\tThe re-assessment is now that copper is likely to see more weakness first now that technical support has been broken. The team at Barclays puts US$8110\/<span>tonne<\/span> forward as the new focal point for the market, one that is expected to hold.<\/p>\n<p>\n\tIn any case, there seems to be some conviction that otherwise US$8040\/<span>tonne<\/span> will hold as that is where &quot;important support&quot; on a long term horizon is situated.<\/p>\n<p>\n\tOn the team&#039;s assessment, daily trend indicators have now turned bearish for copper, gold and Brent crude oil futures &#8211; a threesome we haven&#039;t witnessed in a long while. There is divergence in momentum indicators still, with only gold flashing &quot;bearish&quot;, while copper is suggesting &quot;temporarily oversold&quot;. Momentum for Brent is believed to be Bullish.<\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/Copper_Barclays_Sep11.jpg\" style=\"width: 670px;height: 375px\" \/><\/p>\n<p>\n\t<strong>Technical limitations<\/strong><\/p>\n<p>\n\t<strong><span style=\"font-style: italic\">If you are reading this story through a third party distribution channel and you cannot see charts included<\/span>, <em>we <span><span>apologise<\/span><\/span>, but technical limitations are to blame.<\/em><\/strong><\/p>\n<p>\n\t<em>Find out why <span>FNArena<\/span> subscribers like the service so much: &quot;<a href=\"http:\/\/www.fnarena.com\/index4.cfm?type=dsp_newsitem&amp;n=29EB960D-9DFF-C00E-7F6B464E5D52E250\">Your Feedback (Thank You)<\/a>&quot; &#8211; Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This doesn&#8217;t happen often but technical analysts at Barclays believe short term trends are Bearish for copper, crude oil and for gold.<\/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":[23,24,22],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/58868"}],"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=58868"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/58868\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=58868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=58868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=58868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}