By Jonathan Barratt


Copper has managed a bounce from what many thought would have seen the commencement of another major leg lower. The metal broke through support and an important low created Oct 2011, it looked to the downside to trade, then reversed. Given the economic conditions prevailing at the time of the break we would have though that the sell off would have continued. However this was not to be with the metal making a solid comeback. In our reports, we have always talked about US300 [/lb] or US6700 [/t] as being important levels the market needs to hold onto in order to retain a confident composure for the metal.