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Copper Price (XCU/USD) Rises As China Vows To Support Housing Market

From investingcube.com

Copper price (XCU/USD) is gaining momentum after a major pullback in August. The metal is up 4.8% from the monthly lows. Technical analysis suggests that volatility is about to increase as the price moves close to the apex of a trading pattern. After a 0.95% gain on Tuesday, copper futures opened higher on Wednesday. Till press time, the candle had turned red but was still 0.79% above its previous close. On a weekly timeframe, this translated into a gain of 1.61% as the precious metal seemed on track for the 2nd consecutive green week. On Wednesday, the dollar strength index showed weakness as the latest job data ... (full story)

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  • Category: Technical Analysis