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.
Technical limitations
If you are reading this story through a third party distribution channel and you cannot see charts included, we apologise, but technical limitations are to blame.
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