Fresh buying picks up The rebound was also led by (1) a weaker dollar (DXY: -1% last week) on more Fed easing expectations in response to increased US-China trade tensions, and (2)...
Copper, which made a gain of nearly 1% last week, enjoyed some fresh buying judging by a rise in LME open interest. The rebound was in part technically driven because the sell-off of 4.1% in the LME copper price in the prior week resulted in oversold conditions. As the market is no longer oversold, renewed weakness in the immediate term cannot be ruled out.
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