Analysts at TD Securities suggest to buy copper in anticipation of a near-term potential short-covering rally as supply risks loom ahead. Key Quotes “With the labour negotiation period at Escondida set to end this Wednesday, with no deal in sight, the red metal could be poised to catch a fundamental bid off the trade-war induced bottom.” “Even with trade war fears putting demand estimates at risk, a prolonged outage at the world’s largest copper mine would lessen that blow and suggest prices can move higher.” “Further, the PBoC is set to stimulate the Chinese economy and the USD remains under pressure amid President Trump’s desire for a weaker currency, which should provide additional support.” “We believe the base metal rout may be nearing an end. With plenty of spec firepower on the sidelines and a buildup in shorts, a supply side disruption could be the catalyst needed to induce a bout of short covering and see some longs regain interest.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Asian stocks see gains as China looks to cut business taxes FX Street 5 years Analysts at TD Securities suggest to buy copper in anticipation of a near-term potential short-covering rally as supply risks loom ahead. Key Quotes "With the labour negotiation period at Escondida set to end this Wednesday, with no deal in sight, the red metal could be poised to catch a fundamental bid off the trade-war induced bottom." "Even with trade war fears putting demand estimates at risk, a prolonged outage at the world's largest copper mine would lessen that blow and suggest prices can move higher." "Further, the PBoC is set to stimulate the Chinese economy and the USD remains under… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
