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  • 00:00Netflix Subtitle for phpwv6PQ2 Welcome to "Charting Futures - This Week." Soybeans fell to a five week low, due to ample U.S. supply and trade pessimism with China. In addition to soybeans, we're focusing on bitcoin and oil. Crude oil stalled near a six week high, and equity markets faltered, on concern that a partial U.S.-China trade deal is slipping away. In today's technical analysis, we're focusing on copper. I'm Mike McGlone with Bloomberg Intelligence focusing on downside risks, and copper prices. the metal, in orange, has bounced from two year lows in September, but is vulnerable near its downward sloping 52-week mean, in white. Copper was a precedent indicator for risk-off when it plunged to 2Q18. Showing comfort at those levels is bearish. Some combination long puts on copper is warranted.
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Why This Week’s Hot Trade Focuses on Copper

  • Charting Futures

November 11th, 2019, 9:25 PM GMT+0000

In "Charting Futures: This Week,” Bloomberg Intelligence's Mike McGlone focuses on copper. We also look at the latest news on soybeans and crude oil. (Source: Bloomberg)


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