Thu Mar 14, 2013 6:14pm EDT * Surprise drop in U.S. jobless claims lifts oil, stocks * U.S. crude gains on improving economic outlook after data * Wheat up for sixth session on robust livestock demand * Copper firms on healthier industrial demand prospects By Carole Vaporean NEW YORK, March 14 (Reuters) – Most commodities…
Fri Aug 3, 2012 3:35pm EDT * U.S. non-farm payrolls rise by 163,000 in July * Dollar falls vs euro; copper jumps over 1.5 pct * Copper open interest reflects lack of conviction By Chris Kelly and Susan Thomas NEW YORK/LONDON, Aug 3 (Reuters) – Copper jumped by the most in three weeks on Friday…
Reuters Quote: Copper caps worst monthly loss since June 2010
“I still think there is still some work to be done,” said Adam Sarhan, chief executive of
Sarhan Capital in New York.
“We are seeing a light-volume bounce up to a logical area of resistance … there is also the
issue of a death cross, which bodes poorly for the near-term outlook.”
A death cross occurs when the 50-day moving average sinks below, or crosses over, its 200-day
moving average.
(Graphic: link.reuters.com/puk53s )
“As long as copper stays below its 50- and 200-day moving averages, the bears remain in
control.”