Metals

Aluminum could drop to $2,500

Aluminum prices continue to decline as the technical picture confirms the medium-term downtrend with a target of $2,500 after consolidation in the range of $2,542-2,620. Over the past three weeks, aluminum prices have dropped by 24%, off a peak of $3,229 to today’s price of $2,595.  Apparently, a chain reaction was set off as the […]

6 months ago
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Metals
Copper look set to move higher

Copper prices are in consolidation mode on Thursday, trading within a wide range of $10,130-10,520, while the market gauges sentiment. After soaring to a high of $10,632.9 last Friday, the market tried to correct, but the attempt failed as support kicked in at $10,127. At this point, copper could pull back slightly in view of […]

6 months ago
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Metals
Copper slips to 2-week lows

Copper prices remain on a downward trajectory and have already hit 2-week lows around $9,799. Technical analysis suggests a dip to $9,573, where there is strong support. Meanwhile, fundamental factors, including the depletion of copper inventories in LME warehouses, remain in place. This bodes well for prices further down the road, but there are a […]

6 months ago
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Metals
Gold prices turn around

Throughout October, gold traded within an ascending channel, up from $1.721.6 to $1.813.8/oz. Last Friday, on the last trading day of October, gold breached this channel to the downside, breaking the medium-term upward trend. The technical picture shows that the most likely outcome in the short term is that the precious metal will decline to […]

6 months ago
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Metals
Silver is heading south

Since late September, silver has been trending higher within an upward channel. During this time, price action has climbed from $ 21.41 to $ 24.83/oz (+16%). The local high was reached on October 22, after which the metal reverted to a correction. On Tuesday, November 2, silver broke out of the ascending channel and then […]

6 months ago
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Metals
Gold could rise to $1,825

Gold prices continue to trend higher on Monday, while UST yields are in decline. Meanwhile, the dollar exchange rate is quite stable, as investors in recent weeks have learned to focus on one thing. By the time of writing, the price stood at $1,818, with the first target of the rally at $1,825, and then […]

6 months ago
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Metals
Gold could rise to $1,825

Gold prices continue to trend higher on Monday, while UST yields are in decline. Meanwhile, the dollar exchange rate is quite stable, as investors in recent weeks have learned to focus on one thing. By the time of writing, the price stood at $1,818, with the first target of the rally at $1,825, and then […]

6 months ago
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Metals
Silver is heading for $23

Silver prices are attempting to break out of the $22.30-23.22 sideways trend and rally on Wednesday. In case of consolidation above the $22.8 interim resistance level, the market will be able to push for $23. Today’s industrial production data looks mixed. On the one hand, the UK in August boosted industrial production by 0.8% MoM […]

7 months ago
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Metals
Copper look set to move higher

Copper prices are in consolidation mode on Thursday, trading within a wide range of $10,130-10,520, while the market gauges sentiment. After soaring to a high of $10,632.9 last Friday, the market tried to correct, but the attempt failed as support kicked in at $10,127. At this point, copper could pull back slightly in view of […]

7 months ago
0
0
Metals
Copper slips to 2-week lows

Copper prices remain on a downward trajectory and have already hit 2-week lows around $9,799. Technical analysis suggests a dip to $9,573, where there is strong support. Meanwhile, fundamental factors, including the depletion of copper inventories in LME warehouses, remain in place. This bodes well for prices further down the road, but there are a […]

7 months ago
0
0
Metals
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