\n\tBy Jonathan Barratt<\/span><\/div>\n

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\n\tAt the moment the copper market is looking for direction and with the prospects looming of more stimulus to come we will probably see traders pitch the metal higher. The key will be as to whether or not we can see healthy draws in metal inventories from exchanges. If this is the case then the bearish picture would slowly turn. Higher prices we feel can only be sustained if it is accompanied with draws.<\/div>\n

\n\t\t\tWe expect more downside for the metal, however we do expect a low to be formed around US320<\/span> or US300<\/span>. As it stands we are looking for a push towards the highs late Q2<\/span> or early Q3<\/span>.<\/p>\n

\n\t\t\tChart Point – Copper:<\/u><\/strong><\/p>\n

\n\t\t\tTechnically, we have broken the trend and will monitor price action. It does however look like a technical low is in place and with divergence appearing on the daily charts there is a real risk that it could trade higher. As mentioned last week momentum indicators are trying to tell us a bullish story and to expect weakness to be short lived. This could well be the case and it maybe the fact that our position will need to be turned for a loss.<\/p>\n

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\n\t\t\t $\"\"$ <\/p>\n<\/p><\/div>\n<\/div>\n

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\n\t\tEdited by Jonathan Barratt<\/span>, Barratt's<\/span> Bulletin is a weekly subscription newsletter that provides expert analysis of commodity markets, global indices and foreign exchange movements. Click here <\/a>to take a no obligation 21-day trial to Barratt's or to learn more visit www.barrattsbulletin.com<\/a>. Content included in this article is not by association necessarily the view of FNArena (see our disclaimer).<\/em><\/div>\n<\/div>\n
\n\t $\"\"$ <\/p>\n
\n\tThis report is not, and should not be construed as, an offer to buy or sell, or as a solicitation of an offer to buy or sell, products, securities or investments. This report does not, and should not be construed as acting to, sponsor, advocate, endorse or promote products or any other products, securities or investments. This report does not purport to make any recommendations or provide any investment or other advice with respect to the purchase, sale or other disposition of products, securities or investments, including, without limitation, any advice to the effect that any related transaction is appropriate for any investment objective or financial situation of a prospective investor. A decision to invest in securities or investments should not be made in reliance on any of the statements in this report. Before making any investment decision, prospective investors should seek advice from their financial advisers, take into account their individual financial needs and circumstances and carefully consider the risks associated with such investment decision.<\/i><\/p>\n
\n\tFind out why FNArena subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Jonathan Barratt of Barratt’s Bulletin suggests more downside for copper may only be a precursor to a return to strength.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[59],"tags":[90,91],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/61642"}],"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\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=61642"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/61642\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=61642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=61642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=61642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}