{"id":58904,"date":"2011-09-27T12:29:24","date_gmt":"2011-09-27T02:29:24","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2011\/09\/27\/more-weakness-in-store-for-copper\/"},"modified":"2011-09-27T12:29:24","modified_gmt":"2011-09-27T02:29:24","slug":"more-weakness-in-store-for-copper","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2011\/09\/27\/more-weakness-in-store-for-copper\/","title":{"rendered":"More Weakness In Store For Copper"},"content":{"rendered":"<p>\n\tBy Rudi <span>Filapek-Vandyck<\/span><\/p>\n<p>\n\tTechnical market analysts at Barclays Capital in London have been forced to revise their predictions and projections for copper a few times in the weeks past, and this week has once again proved no exception. The problem with copper is that it was supposed to be a solid indicator for ongoing strong demand from China and elsewhere, instead it has proved vulnerable to margin calls and a weakening outlook for the global economy.<\/p>\n<p>\n\tContinuous weakness for copper has forced the analysts to review their bullish picture and the expectation is now that we will see much weaker prices. Reports the team: &quot;The downward break in copper signals further weakness toward 6500 before looking for a base over the 6000 area.&quot; Note the red metal is at present trading below US$7300\/<span>tonne<\/span>, so Barclays&#039; technical assessment implies a lot more weakness than what has been seen throughout tumultuous September.<\/p>\n<p>\n\t<img decoding=\"async\" alt=\"\" src=\"http:\/\/www.fnarena.com\/ckfinder\/userfiles\/images\/Copper_Breakdown_Sep11.jpg\" style=\"width: 670px;height: 379px\" \/><\/p>\n<p>\n\tOther metals have equally felt downward selling pressure and the team at Barclays suggests that were aluminum to break below US$2155\/t, this would confirm the metal is targeting US$2040\/t.<\/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>Technical market analysts now believe copper is poised for lower price levels.<\/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\/58904"}],"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=58904"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/58904\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=58904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=58904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=58904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}