It looks to me like we might see a near term trend reversal in copper price
At the end of this month (30-31 Jan), Chinese Vice Premier Liu is scheduled to attend high-level trade talks in Washington aimed at finding a way through the current impasse
There seems to be a growing sense of urgency on both sides to reach a settlement. China’s economy is slowing. President Trump is fighting political scandal and policy imbroglios on many fronts. He needs a win
Trump is impulsive and unpredictable. Nevertheless, there have been rumours circulating over the last 24 hours suggesting he may be willing to offer major concessions to reach a deal.
Cu price yesterday saw a new YTD high. Positive developments on the trade talks over the next several weeks would see a lot of money pouring back into commodities imo.
MOD Price at posting:
22.0¢ Sentiment: None Disclosure: Held