On themes..
Copper is moving higher...in a steady uptrend at the moment. It took a hit coinciding with Trump's initiation of the trade war in June 2018. IMO... the base metals are recovering on the back of optimism the trade war is soon to be resolved or at the least won't worsen. The air will come out if Trump increases tariffs further.... otherwise copper looks on track to return to something like US$3/$3.20 [pre-tradewar price]
Gold looks to have topped out... for 2 reasons...1) likely resolution of the trade war and 2) The Fed is sounding dovish again. If those factors hold then the run for gold is over for the time being...imo.
Short Term Trading Weekend Lounge: 22-24 Feb, page-17
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Last
8,637.9 |
Change
70.900(0.83%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,567.0 | 8,657.9 | 8,567.0 |
| XAO (ASX) Chart |
