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- Woodies pivot (Major)
Indonesia Surprises Markets with Interest Rate Cut Amid Currency Pressure
Stock Futures Dip as Investors Await Key Payrolls Data
FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/CAD slips as Canadian dollar firms on hopes for US-Iran ceasefire deal
FxWirePro: GBP/AUD downside pressure builds, key support level in focus
US Futures Rise as Investors Eye Earnings, Inflation Data, and Wildfire Impacts
Wall Street Analysts Weigh in on Latest NFP Data
FxWirePro- Major Crypto levels and bias summary
FxWirePro: NZD/USD gains as hawkish RBNZ comments boost Kiwi dollar
FxWirePro: EUR/ NZD dips below lower range, bearish bias increases
Moody's Upgrades Argentina's Credit Rating Amid Economic Reforms
China's Refining Industry Faces Major Shakeup Amid Challenges
EUR/JPY Bulls Hold the Line Above 185: Eyes Locked on 188 Breakout
Geopolitical Shocks That Could Reshape Financial Markets in 2025
China’s Growth Faces Structural Challenges Amid Doubts Over Data
Goldman Predicts 50% Odds of 10% U.S. Tariff on Copper by Q1 Close 



