Technicals | Jun 04 2012
By Rudi Filapek-Vandyck
The team of technical market analysts at Barclays adopted a Greater Bearish view on base metals in May, predicting investors should not expect to see the likes of copper, aluminium and nickel find a bottom just yet. It would appear that, despite some heavy falls in recent sessions, the Barclays team is not willing to give up on that view just yet.
The chart below can serve as a general summary of what the technicals are saying about base metals at the start of June, and one would have to agree with the analysts: it ain't looking pretty.
Note the analysts are now also observing the charts for crude oil don't look good either, while gold, on the other hand, is starting to (finally!) attract safe haven funds inflows.
Technical limitations
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