MCX Copper Under Buying Zone Target 468—480, Very Very Soon – Copper on MCX settled up 1.54% at 462.35 as inventories tumbled and investors bet on a U.S.-China trade deal.
Optimism over a trade deal has been rising as top U.S. and Chinese trade negotiators haggled over the details of a set of agreements aimed at ending their trade war.
Commodities Weekly Technical Research Report 25-02-19 To 01-03-19
The global refined copper market showed a 52,000 tonnes deficit in November, compared with a 1,000 tonnes surplus in October, the International Copper Study Group said.
New orders for key U.S.-made capital goods unexpectedly fell in December amid declining demand for machinery and primary metals, pointing to a sustained slowdown in business spending on equipment that could further crimp economic growth.
MCX Zinc Ready For Big Upside Target 198—202—212—216, Need Patience
There was more bad news from the housing market, as the National Association of Realtors said existing home sales dropped 1.2 percent to the lowest level since November 2015.
MCX Lead Above 140 Target 149—154, Buy on Dips – Base Metal
Top U.S. and Chinese trade negotiators haggled over the details of a set of agreements aimed at ending their trade war, just one week before a Washington-imposed deadline for a deal expires and triggers higher U.S. tariffs. – Neal Bhai Reports (NBR)
