{"id":116182,"date":"2017-11-09T08:45:22","date_gmt":"2017-11-09T13:45:22","guid":{"rendered":"http:\/\/countingpips.com\/?p=116182"},"modified":"2018-06-01T15:53:26","modified_gmt":"2018-06-01T15:53:26","slug":"copper-technical-analysis-no-change-in-copper-price-trend-yet","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/11\/copper-technical-analysis-no-change-in-copper-price-trend-yet\/","title":{"rendered":"COPPER: Technical Analysis – No change in copper price trend yet"},"content":{"rendered":"
November 9, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

No change in copper price trend yet<\/strong><\/p>\n

Lower import and exports in October signal slowing of China\u2019s economy. Will copper price<\/a> continue to decline?<\/p>\n

Economic data on Tuesday showed China\u2019s import and export growth slowed in October. Chinese imports rose 17.2% in October from a year earlier after 18.7% growth in September, and export growth was at 6.9% after 9% gain. This signals slowing of China\u2019s growth. Authorities are concerned about accumulating debt in Chinese companies and China\u2019s central bank governor recently warned about rising risks to China\u2019s financial system. A focus on lowering companies\u2019 financial leverage will result in lower financing for Chinese enterprises, further slowing growth. Slower growth is bearish for copper prices.<\/p>\n

\"Copper\"<\/p>\n

COPPER:D1 <\/b> is correcting downward in daily timeframe after hitting 51-month high in mid-October. The price is close to testing the 50-day moving average MA(50).<\/p>\n