Today's interesting charts
Eoin Treacy's view
Today's interesting charts - Industrial metals have rebounded, led by copper, in a riposte to some of the more bearish global economic forecasts which have surfaced over the last month.
Copper - found support in the region of the 2008 peak and the 200-day MA in May and would need to sustain a move below $8500 to question medium-term upside potential.
Tin - pulled back sharply from its April peak near $33,500 and found support a month ago near the 2008 peak at $22000. It has bounced somewhat but will need to hold above $22000 to confirm a return to demand dominance.
Aluminium - testing the psychological $2500 level and the 200-day MA. A sustained move above $2600 would confirm more than temporary support in this area.
Zinc - rallying back towards the psychological $2500 level. A sustained move above it would confirm a return to medium-term demand dominance.
Lead - has rallied back above the $2500 level and would need to sustain a move below it to question medium-term demand dominance.
Nickel - broke its more than 2-year progression of higher reaction lows in May but at least paused in the region of $21,500. It will need to find support above that level on a pullback to confirm a return to demand dominance beyond the short-term.