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The Copper Journal Weekly Reports - pg 4. Weekly reports / charts

Sept 27

John Gross

Headwinds...

That’s what our economy seems to be encountering now.

Consumer spending, one of the key drivers contributing to economic growth slowed to just +0.1% during August from July, while orders for durable goods, excluding defense spending fell 0.6%.

Earlier this month, the Institute For Supply Management reported that their Manufacturing Index fell below...

Sept 20

John Gross

All Over The Map...

It feels like one step forward, and two steps back now.

The recent sense of optimism in trade talks evaporated again, as China’s delegates went home early, and empty handed.

Attacks on Saudi oil refineries sent prices sharply higher, in a knee jerk reaction, only to...

Sept 13

John Gross

Truce, Or Just Time Out?

Trade talks are front and center once again, and once again, base metals rose to the occasion.

Without exception, each and every one of the nonferrous team was in the black last week, with copper up another 6.5¢, and bringing the month to date gain to + 15¢, and reaching a 6 week high close of $2.68.

A brief glance at the copper chart shows the market targeting $2.70, followed...

Sept 6

John Gross

A Reprieve?

Well, it looks like it – as base metals somehow, someway managed to get back above the waterline.

Before you go any further, take a gander at the Copper Bar Chart – clearly, this falls into the category of ‘The Mysteries Of The Markets’.

Just last week we were lamenting the break of a key support line, that technically would suggest...