Daily Commodity Chart Wrap

posted in: Aluminum, Copper, Gold | 0

Daily Commodity Chart Wrap 3/23/2015:


Copper (Daily)


Copper has rebounded nearly 10% in just the past few trading sessions. Price is now testing a cluster of previous support $2.75-$2.80. Above $2.80 the next area of resistance will be $2.95-$3.00.


Copper demand growth forecast




Aluminum demand growth forecast



Aluminum demand growth forecasts are very strong, however, the Dow Jones US Aluminum Index has broken down from a multi-month top in recent weeks:





Gold (Daily)


Gold has rallied for 4 consecutive trading sessions and is now testing previous support around $1190 with the big round number $1200 level just overhead.