Things are starting to get dicey now as we are seeing market moves that look like breakouts but are being questioned.
- EUR/USD back below 1.0800 and 100-day moving average but holding at last week’s lows
- USD/JPY keeps above 138.00 but still holding below last week’s highs
- S&P 500 falls back below 4,200 after hitting fresh highs for the year
- Gold not following through on break below $1,975-81 from last week
But among the more straightforward moves, copper is one to watch as it falls further to its lowest levels since the end of November last year. That might present a stronger dip buy opportunity in the long run for copper, whose structural outlook remains one of the more bullish cases.
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