Fitzpatrick’s Team: “The present set up on Brent and Nymex both suggest that lower levels in the oil price are a danger in the weeks ahead. The spread chart between the two further suggests that Brent may continue to underperform (as it has done recently).
Copper also looks set for further losses. That target corresponds closely to the converged 200-month moving average (which we hit in 2008), and rising trend line support off that 2008 low (196.5-198.5).
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