London South East | The UK's favourite investor portal.

Comex High Grade Copper Futures (HG) Technical Analysis – March 22, 2017 Forecast 2 hours agoByJames Hyerczyk CopperDailyTechnical May Comex High Grade Copper futures continued to retreat on Wednesday as investors reacted to lower industrial demand and as investors shed risky assets on doubts over the economic agenda of U.S. President Donald Trump. Traders reacted to reports from the OECD that said China’s economic growth is likely to slow to 6.5 percent this year and cool further to 6.3 percent in 2018, though exports could pick up if global demand strengthens. Traders were also worried that the U.S. would not push through corporate tax cuts as promised before last year’s election. They were also reacting to the possibility of a resumption of copper production at Freeport, and the possibility of a resolution of the strike at Escondida soon. Comex High Grade Copper Daily May Comex High Grade Copper Technical Analysis The main trend is down according to the daily swing chart. A trade through $2.700 will change the main trend to up. A move through $2.5585 will signal a resumption of the downtrend. The short-term range is $2.5585 to $2.7000. Its retracement zone is $2.6295 to $2.6125. The major retracement zone is $2.6460 to $2.6010. The market is trading below these retracement zones, giving copper a strong downside bias. Forecast Based on the current price at 2.6005, the direction of the copper market the rest of the session is likely to be determined by trader reaction to the Fibonacci level at $2.6010. A sustained move under $2.6010 will indicate the presence of sellers. This is likely to lead to a break into the next uptrending angle at $2.5360. This is the last potential support angle before the $2.5585 main bottom. Overtaking $2.6010 will signal the presence of buyers. This could create a labored rally with potential targets at $2.5135, $2.6125 and $2.6200. The latter is a potential trigger point for an acceleration into 50% levels at $2.6295 and $2.6460. Watch the price action and read the order flow at $2.6010. Trader reaction to this level will tell us if the selling is increasing or if buyers are starting to regain control.

Toggle navigation MINING.com Zinc price rally is back on Frik Els | about 11 hours ago | 234 | 0 Zinc price rally is back on Zinc ingots from CEZinc, Canada. Image: Glencore Zinc was once again the best performing commodity for the week with LME prices ending at $2,882 a tonne ($1.31 a pound), a 6.7% jump over the last five trading days, outperforming sector bellwether copper's 3.4% gain for the week. Zinc, up 12% year to date, is being buoyed by record refined output in China and tight supply after a number of mine closures. RBC Capital in a recent research note followed others to upgrade its forecasts for the metal. The Canadian investment bank quoted by investment blog Barron's upped its previous forecast for the zinc price by 8%. RBC believes zinc will advance to $1.35 a pound or $2,976 a tonne over the year. RBC is generally bullish on industrial metals and steelmaking raw materials saying "commodity price strength could continue into the second quarter driven by improving leading economic indicators and strong seasonality." It singled out zinc as the metal with the "best fundamentals". Glencore (which RBC rates as an "outperformer") with its financial results release said conditions that saw zinc jump 60% last year should continue in 2017: [In 2016] the widely anticipated zinc mining output reduction materialised and resulted in significantly tighter physical market conditions, particularly for zinc concentrate. Confirmation of decreasing supply, in combination with better than anticipated demand conditions driven by the recovery of the Chinese real estate and global automotive market, has resulted in destocking of both zinc concentrates and metal during the year and a higher corresponding LME price. Sign up for our daily newsletter Your Email Here SIGN UP MINING.com Reaching Out About Us Advertise Contact Submissions Terms of Use Sign Up for a Digest Mining News Gold News Suppliers and Equipment Coal News Copper News All Digests MINING.com InfoMine © MINING.com All Rights Reserved

America’s infrastructure shortfall could be an investor’s best friend Frank Holmes - U.S. Global Investors | about 14 hours ago | 239 | 0 PEOPLEMINE FACEBOOK LINKEDIN TWITTER EMAIL PRINT Please note: The Frank Talk articles listed below contain historical material. The data provided was current at the time of publication. For current information regarding any of the funds mentioned in these presentations, please visit the appropriate fund performance page. America's Infrastructure Every four years, the American Society of Civil Engineers (ASCE) releases its report card on the condition of America’s infrastructure, and for the second time since 2013, our nation’s roads, bridges, waterways, airports and more scored a barely-passing D+. As disconcerting as this might be to American taxpayers who expect and depend on quality infrastructure, it could be a huge opportunity for investors in companies that stand to benefit from President Donald Trump’s $1 trillion infrastructure spending proposal. Although the plan will likely include public funding, private investment is expected to play an exceptionally large role. House Speaker Paul Ryan recently commented that for every $1 of public funds earmarked for infrastructure, there should be at least $40 in private sector spending. This is investment that will be much-needed. Failure to Act According to the ASCE, the U.S. is facing a “yuge” spending gap in both the near term and long term. Between 2016 and 2025, the nation will be short nearly $3 trillion for surface transportation, water, electricity and more. Between 2016 and 2040, the spending gap pushes closer to $10 trillion. Public spending on transportation and water infrastructure graph This gap has “a cascading impact on our nation’s economy,” as the ASCE puts it. If nothing changes in terms of infrastructure spending, U.S. gross domestic product (GDP) could lose up to $4 trillion by 2025. Business sales could fall $7 trillion, and 5 million American jobs could be lost. Take a look at the cost of congested roads alone. In 2014, the most recent year of available data, an estimated 3.1 billion gallons of fuel were wasted while we sat idly in traffic. Combined with lost time and productivity, this amounted to approximately $160 billion—all because of clogged roads and highways. Total Cost of Vehicle Congestion is Rising - graph Without the proper funding for surface repairs and expansion, this figure could easily continue to surge in the coming years as more and more Americans use public roads. In 2016, Americans drove over a jaw-dropping 3 trillion miles, equivalent to more than 300 round trips between Earth and Pluto. More and more Americans make use of public road and aviation infrastructure - graph They’re also flying more than ever before, as you can see in the chart above. With U.S. airports serving more than 2 million passengers ever

May Comex High Grade Copper futures are trading higher following the release of the Fed’s monetary policy statement on Wednesday that presented as less-hawkish picture than expected. Although the Fed hiked its benchmark interest rate, this move was highly expected. The surprise was that the central bank showed no signs of speeding up its pace of tightening. The news that the Fed will raise rates gradually dampened the expectations that the Fed may raise rates more than three times in 2017. This helped weaken the U.S. Dollar, making dollar denominated copper a more attractive investment. Also supporting prices were the supply disruptions at mines in Chile, Peru and Indonesia. This raised concerns over supply deficits. Comex High Grade Copper Daily May Comex High Grade Copper Technical Analysis The main trend is down according to the daily swing chart. However, momentum is trending higher. Copper is trading above the major retracement zone at $2.6460 to $2.6012 and the 50% level at $2.6725, giving it a strong upside bias. This puts it on pace to challenge the next retracement zone at $2.6973 to $2.7300. Since the main trend is down, we could see a technical bounce on the first test of this zone. Forecast Based on the current price at $2.6935 and the earlier price action, the direction of copper prices the rest of the session will be determined by trader reaction to the 50% level t $2.6975. A sustained move over $2.6975 will indicate the buying is getting stronger. This could trigger a further rally into a downtrending angle at $2.7260 and the Fibonacci level at $2.7300. A failure to overtake $2.6975 will signal the presence of sellers. This could drive the market back into a 50% level at $2.6725 and a steep uptrending angle at $2.6585. This is followed by another 50% level at $2.6460. The daily chart opens up under $2.6460 with the next major uptrending angle coming in at $2.6085. Watch the price action and read the order flow at $2.6975. Trader reaction to this level will tell us if the buying is increasing or if the sellers have returned.

Chinese data, strikes bring copper price back to boil Frik Els | about 14 hours ago | 839 | 0 Chinese data, strikes bring copper price back to boil Worker repairing machinery in Tangshan, Hebei Province, China. Image: junrong In New York on Tuesday copper for delivery in May enjoyed a third day of gains adding 1% to $2.6505 per pound or $5,843 a tonne on the back of upbeat economic data from China and continued labour disruptions at the world's biggest mines. The Statistics Bureau of China said on Tuesday industrial production led by the steel industry jumped 6.3% in January and February of 2017 (released together to smooth out distortions in the data caused by the Chinese new year). Fixed asset investment shot up by 8.9% compared to 8.1% for 2016 as a whole thanks to strong private sector investment. China consumes some 46% of the world's copper and the price of the metal is influenced by broader economic trends thanks to its widespread use in a variety of industries. Reuters also reported on Tuesday that talks to resolve the strike at Escondida, the world's largest copper operation by a wide margin, is going nowhere. The main union representing 2,500 workers at the Chilean mine released a statement that it will "maintain the strike for an indefinite amount of time" after a third attempt to restart negotiations with management failed. The previous labour strike in 2006 ended after 25 days while the current wage deal was signed four years ago when copper was trading around $3.40 a pound The strike at the BHP Billiton operated mine is already in its 34th day. The previous labour strike in 2006 ended after 25 days while the current wage deal was signed four years ago when copper was trading around $3.40 a pound. In its annual financial results BHP said it expected full-year production at Escondida of 1.07 million tonnes, which gives the mine a nearly 5% shares of global primary copper production. BHP, which operates and majority owns the mine with fellow Melbourne diversified giant Rio Tinto, declared force majeure at the mine on February 10 sending the copper price to its highest since May 2015, but an unexpected surge in copper inventories at facilities controlled by the LME and on the Shanghai Exchange stopped the rally in its tracks. Peru strike adds to Freeport woes In Peru top listed copper producer Freeport McMoRan's Cerro Verde mine which recently underwent a massive expansion has also been hit by labour action. Workers walked off the job on Friday for an indefinite strike saying production at the mine is running at 50%. Cerro Verde, controlled by Freeport with a 53.6% stake, Sumitomo Metal (21%) and Buenaventura (19.6%), produced just under 500,000 tonnes of the red metal last year, making it the South American nation's top producer. At the same time Freeport's Grasberg mine in Indonesia faces a concentrate export ban as it negotiates a new operating licence and ownership agreements with t

Comex High Grade Copper Futures (HG) Technical Analysis – March 14, 2017 Forecast 3 hours agoByJames Hyerczyk CopperDailyTechnical May Comex High Grade Copper futures are under pressure on Tuesday as investors react to the firmer U.S. Dollar ahead of the Fed’s interest rate decision on Wednesday. However, expectations of stronger demand from China are helping to underpin the market. Copper also continues to be supported by supply disruptions in Chile and Peru due to strikes and in Indonesia, where the government has halted exports of copper concentrate from Freeport-McMoRan’s Grasberg mine. Essentially, supply side issues are supporting the market, however, there are still concerns over the Fed because its decision will impact the dollar which will have an effect on dollar-denominated copper. Comex High Grade Copper Daily May Comex High Grade Copper Technical Analysis The main trend is down according to the daily chart but momentum shifted to the upside with the formation of a two-day bottom at $2.5585. A trade through this price will signal a resumption of the downtrend. The market is also trading inside a major retracement zone at $2.6460 to $2.6010. Trader reaction to this zone will determine the longer-term direction of the market. On the upside retracement zone targets come in at 2.6725, 2.6975 and 2.7300. This areas could be hit if the dollar weakens, China increases demand and the supply disruptions become worse. Forecast Based on the current price at $2.6190 and the earlier price action, the market is being controlled by a downtrending angle at $2.6360 and an uptrending angle at $2.6185. A breakout over $2.6360 will signal the return of buyers. This could trigger a fast move into $2.6460. This is the trigger point for an extended rally into the next 50% level at $2.6725. If the angle at $2.6185 fails as support then the market could flush into $2.6010 and a series of uptrending angles at $2.5885, $2.5735 and $2.5660. The latter is the last potential support angle before the $2.5585 main bottom.

Latest Share Chat

Member Info for Bottled

Followers

Following

Posts (Last 30 Days)

Posts (All Time)

Last Post

Member Since

Share Chat Post Distribution (Last 30 Days)

Activity Log (Last 30 Days)