Copper chart - Trading View
Copper price sinks as China stares at a potential first GDP drop since 1976, further downside on cards.
Prices under pressure, were down over 10% for the week till date and nearly 13% down for the month.
China is responsible for more half the world’s copper consumption and the bulk of global production.
Many economists are now forecasting an historic decline in China’s GDP for the January-March quarter.
Copper is particularly vulnerable to broader economic conditions given its widespread use in electrical grids, construction, transportation and industry.
Technical studies also paint a strongly bearish picture with rising volatility and bearish momentum.
Price has breached 78.6% Fib retracement at 2.232. Next major support lies at 2.094 (88.6% Fib).


FxWirePro: USD/ZAR dips below lower range, bearish bias increases
Lithium Market Poised for Recovery Amid Supply Cuts and Rising Demand
NZDJPY Breaks 94: Bulls Charge as Kiwi Roars Back
Bank of America Posts Strong Q4 2024 Results, Shares Rise
Oil Prices Dip Slightly Amid Focus on Russian Sanctions and U.S. Inflation Data
S&P 500 Relies on Tech for Growth in Q4 2024, Says Barclays
Geopolitical Shocks That Could Reshape Financial Markets in 2025
USD/CHF Pauses After 200-Pip Rally — Buy Dips Near 0.775, Target 0.790
Urban studies: Doing research when every city is different
FxWirePro: USD/CAD attracts selling interest, vulnerable to more downside
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed
FxWirePro: GBP/NZD remains weak, eyes 2.2550 level
FxWirePro- Major European Indices
Global Markets React to Strong U.S. Jobs Data and Rising Yields
2025 Market Outlook: Key January Events to Watch 



