Copper's stimulus-relief rally is overdone, in the opinion of Daniel Ghali, Senior Commodity Strategist at TD Securities.
The set-up is ripe for consolidation in Copper markets
Chinese stimulus hopes have bolstered demand signals in recent days, but we now see risks of a resumed slump with demand expectations no longer consistent with recent history. Participants could be in for an unpleasant surprise as officials refrain from stoking leverage.
Without a game-changing stimulus package announcement, the set-up is ripe for consolidation in Copper markets.
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