A US government report released yesterday showed that new equipment orders rebounded in November. Capital goods orders rose by 0.7%, showing the strongest monthly growth over the past year.<\/p>\n
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The value of core capital goods orders, a proxy for investment in equipment excluding aircraft and military equipment, increased last month after a revised 0.1% decline in October.<\/p>\n
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The rise in orders may be just the beginning, as companies are more comfortable now that the election is past and are making long-term investments. The report showed growth in orders for machinery, computers and primary metals.<\/p>\n
Another sign of optimism came earlier this month, when a gauge of new orders moved into expansion territory for the first time in eight months, according to the Institute for Supply Management’s November manufacturing survey.<\/p>\n
If one looks at the situation with new orders in the longer term, from several months to a year, the picture will not be optimistic. Decrease is noted in all groups of orders, somehow related to metals: automobiles and spare parts, transport equipment, construction vehicles, electrical equipment, industrial equipment, etc.<\/p>\n
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From a technical point of view, copper prices are now in a multi-month support zone in the range of 8800\u20138900. For those traders who accept the scenario of a possible upward reversal of copper prices, it gives an opportunity to open short positions, which will provide the best ratio of potential risk to profit.<\/p>\n
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The overall recommendation<\/strong> is to buy copper.<\/p>\n Profits should be taken at the level of 9150. A Stop loss could be set at the level of 8800.<\/p>\n The volume of the opened position should be set in such a way that the value of a possible loss, fixed with the help of a protective Stop loss order, is no more than 1% of your deposit funds.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Market analysis by financial analysts and experienced traders. Forecast for Copper.<\/p>\n","protected":false},"author":1,"featured_media":2777,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-2784","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-forecasts"],"translation":{"provider":"WPGlobus","version":"2.12.2","language":"en","enabled_languages":["ru","en"],"languages":{"ru":{"title":true,"content":true,"excerpt":true},"en":{"title":false,"content":false,"excerpt":false}}},"yoast_head":"\r\n