After a massive price slide and a slight improvement in Euro zone sentiment, some traders are not surprised to see copper prices having some upside trading action this morning. Other traders feel that the copper market might be partially hindered today because of overnight news of a rise in weekly Shanghai copper stocks. On the other hand, a slight improvement in sentiment toward the Euro zone bailout fund and gains in global equity markets may be seen as a positive factor for the market but that may require additional gains in US equities and perhaps signs of more progress from the US government from the funding/stimulus arena. LME Copper Stocks were 381,250 tons down 825 tons.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
