Barometer market, copper is used heavily in construction of buildings and civil engineering, electronics, wire and cable and mechanical engineering. According to the Copper Development Association, the average home contains 180 pounds in a car and 23 kilograms.
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Copper gives the trend , copper is the metal complex key "base metals", a real conductor: it sets the tone and prints the movement. More importantly, it is seen as a reliable leading indicator of global economic trends ahead. It is therefore closely watched ...
Offer
Extract as ore, copper must be refined before being used. Chile alone accounts for 38% of the world's known mineral reserves, and is the largest producer of ore. China is the largest producer of refined copper.
Demand
resistant to corrosion and has a very good electrical and thermal conductivity, copper is used pure or alloyed with zinc (to form brass), nickel or aluminum. More than half of production is found in electronic equipment and wiring, but copper is also present in the industry and plumbing.
analysis
Since 2008, I trace this to the leading indicator of the economy, if you had listened to the strong bearish signal that represented the ascending triangle break the downward September 2008, you would set free from the economic crisis and ensuing stock market, or at least you have placed your ball as a result of that break sharply downward and potentially generate excellent earnings thereafter.
In December last, my outlook for the copper target was set at 455, that goal was reached this week and even exceeded, copper is BO "Brake Out", so bullish.
The second chart is a monthly term, you can see the Fibonacci ratios that are positioned in extension mode, the divine ratio 161.8% is located at 563, which represents the next target Prospective to reach for copper .
Then the upward momentum is still far from over, what will you do?
Claude Bordeleau
The observer technical analysis of stock markets
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| Chart months - 161.8% Fibo at 563 |
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