2015, 4 Nov. > Short Market Commentary.

Recycled views of the Chinese economic outlook in the absence of fresh data or incentives have effectively dominated base metal price movements today, other than the stellar rise in the Aluminium price to a high of $1516 following the announcement by Alcoa of production cutbacks. The star retreated over the horizon latterly and we are now back at $1502, $10 up on last night’s close. The narrow ranges have inhibited any pressure on technical supports and resistances, leaving the current ranges intact, and potential downward pressure resulting from the continued weakness in the dollar has been much muted apart from gold which has dropped to around $ 1122 To repeat yesterday’s closing comment; the markets are badly in need of fresh stimulus.

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