INTERNATIONAL COMMODITY NEWS :
Copper prices plunged in Asia on wednesday with investors pointing to demand concerns in China, but no specific events that would trigger a further decline from overnight. Copper for March delivery plunged 4.30% to $2.492 a pound, after hitting a daily overnight low of $2.639, a level not seen since August 2009.Strong trade data from China on Tuesday, the world’s largest copper consumer, failed to boost sentiment.The Asian nation reported a trade surplus of $49.6 billion in December, broadly in line with expectations. Exports jumped 9.7% in December, but imports rose by a smaller-than-forecast 2.4%, pointing to weak domestic demand.
TRADING STRATEGY :
SELL GOLD BELOW 1224 TARGET 1219 1213 SL 1230
BUY GOLD ABOVE 1240 TARGET 1245 1251 SL 1234
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Copper prices plunged in Asia on wednesday with investors pointing to demand concerns in China, but no specific events that would trigger a further decline from overnight. Copper for March delivery plunged 4.30% to $2.492 a pound, after hitting a daily overnight low of $2.639, a level not seen since August 2009.Strong trade data from China on Tuesday, the world’s largest copper consumer, failed to boost sentiment.The Asian nation reported a trade surplus of $49.6 billion in December, broadly in line with expectations. Exports jumped 9.7% in December, but imports rose by a smaller-than-forecast 2.4%, pointing to weak domestic demand.
TRADING STRATEGY :
SELL GOLD BELOW 1224 TARGET 1219 1213 SL 1230
BUY GOLD ABOVE 1240 TARGET 1245 1251 SL 1234
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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