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Barclays Reiterates Greater Bearish View For Base Metals

Technicals | May 30 2012

By Rudi Filapek-Vandyck

If technical price charts show the way forward, and if their interpretation by the team at Barclays Capital in London proves correct, then base metals prices remain en route to lower price levels, still.

Last night, the team at Barclays reiterated their "Greater Bearish View" for base metals, using recent price action in aluminium as the example for why investors should remain nimble, cautious and conservative when playing this asset class.

Bottom line: the chartists continue to anticipate copper prices will eventually print a value below US$7500 per tonne while US$1990/t remains the technical target for aluminum.

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