Column: Funds sell copper as technical picture deteriorates
Investors on both sides of the Atlantic have been shifting positions in response to a potential downside break of a range that has defined the price action this year.
Any way you slice it, 2022 was a turbulent year, from Russia’s invasion of Ukraine to historic inflation and jumbo rate hikes to multiple failures in the digital asset space.
The country’s behemoth iron ore miners ended the year on a high as China’s abrupt Covid Zero reversal and a steady stream of supportive policies raised the outlook for demand.