Copper Set for Best Week Ever

The video discusses a significant rally in LME copper prices, marking the best week in 30 years with an 18% increase. The RSI indicates an oversold market. Joe Cusick from the CME provides insights, suggesting caution in buying at current levels due to technical oversold conditions. The discussion highlights copper's movement prior to potential Trump policies, emphasizing supply factors, including reduced copper stocks in China. Inflation concerns and global growth prospects are also considered, with copper showing potential for further growth despite uncertainties in global supply.

What was the percentage increase in LME copper prices over the week?

• 30%

• 25%

• 18%

• 10%

What does an RSI value above 70 indicate?

• The market is undersold

• The market is stable

• The market is oversold

• The market is volatile

According to Joe Cusick, what is a challenge in buying copper at current levels?

• Strong dollar

• Oversold technicals

• Low supply

• High demand

What factor is mentioned as influencing copper prices before Trump's policies?

• Currency fluctuations

• Technological advancements

• Supply shortages

• Global inflation

What recent data from China is highlighted in the context of copper prices?

• Inflation data

• Export data

• Manufacturing data

• Employment data