Robin Bhar
Robin Bhar
below continue copper critically deficit forecast four industry levels low market next past ratio remain stocks strong three weeks
Furthermore, with the market in deficit for the past three consecutive years, industry stocks are below critically low levels and the stocks-consumption ratio is forecast to remain below four weeks over the next three years and should continue to underpin strong copper prices.
forcing grip investors market metals precious prices tight
Speculators and investors have the precious metals market in their tight grip and are just forcing prices higher.
appearing base circle feed metals precious remain strength virtuous
Base and precious metals remain in a virtuous circle with each appearing to feed off the strength of the others.
absence current market movements possible price prone trading upside wide
However, the market may be prone to wide trading ranges and choppy price movements while current consolidation continues, with more liquidation possible in the absence of upside momentum.
both desire exposure funds seem
There does seem to be a desire to have exposure to commodities by both long-term funds and speculators.
chart closes further price selling weekly woods
We may not be out of the woods yet and further liquidation and selling could be lurking. Tonight's weekly chart closes will be important in determining near-term price direction.