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CLP investment futures into the afternoon of the first assessment: copper bearish ideas remain unchanged
Views:  Date:2014-12-03 10:36:34

LME copper picked up yesterday after picking up to 6418 US dollars to close at 167,934 hands, open interest increased by 2178 to 32,6793 hand-hand, inventory increased 1225-1660025 tons. LME copper fell to 6320 dollars last night after a rebound to the long shadow of the Star line to close, the overall pattern is still bearish, upward rebound is limited. While the continued strength of the dollar also constitutes a greater pressure on copper prices. Fundamentals: As the euro zone economy continued to weaken, the market for the European Central Bank introduced more robust economic stimulus measures have expected. Last night, the US ISM New York Fed corporate activity index was 62.4, higher than the expected 55 and the former value of 54.8. The focus of the current market data released on Friday in the US non-farm. Copper overall bearish ideas remain unchanged. The latest economic data: the Red Book Research Institute (Redbook Research) released a report, November 29, the week the United States chain store sales growth rate of 4.8%. Data show that November 29 the week the United States Red Book retail sales increased by 4.8% annual rate, while the data released last week, an increase of 4.2%. The data also show that as of November 29 week, the United States in November 2014 the first four weeks of the Red Book retail sales, an increase of 4.2% over the same period last year. In addition the United States in November the first four weeks of the Red Book retail sales, compared with the first four weeks of October fell 0.6%. The dollar index continued to rise yesterday, the highest red to 88.66, the minimum exploration to 87.88, closing up 0.64 points to close at 88.63. From the technical chart point of view: the dollar index last night, once again strong, and approaching the 2009 high of 88.70 line, the line is rare to see the current 5 with positive market strength, short-term there is no sign of a significant adjustment. US crude oil fell slightly yesterday, up to 69.32 US dollars in January, the lowest to 66.67 US dollars to close at 66.88 US dollars. From the technical chart point of view: US crude oil fell slightly last night, the current short-term pressure in the $ 71 line, the overall look will continue to dip. Shanghai copper main contract in February this morning, after a slightly lower opening to go, early in order to close the line to see the overall pressure in the vicinity of 46000, is expected to rebound will continue to adjust, the overall remains empty bearish ideas remain unchanged. This view is for reference only, not as a market basis, investors profit and loss. Prompted to announce the important economic indicators and data: 1, the United States in November ISM non-manufacturing index  

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