David Fuller's view Signs of trend changes, due to fundamentals and sentiment, will show on price charts before they are recognised and accepted by the crowd of investors.

China's Shanghai A-Shares Index (weekly & daily) continues to show technical evidence that it has finally bottomed, and the political / fundamental story is very interesting (see last week's comments). I expect a challenge of the September and October rally highs before long and it would take a clear downward dynamic to indicate more than brief resistance near those levels.

We maintain that a recovering China would be bullish for industrial metal prices.

Copper LME is rising for the fourth consecutive week if today's gains hold and are extended. A break beneath the November low near $7500 would be required to negate current evidence that the range since October 2011 is a large base formation. Similarly, Aluminium, Lead, Tin and Zinc all show similar patterns. Therefore I would continue to give the upside the benefit of the doubt until we eventually see some downward dynamics.

See also Eoin's latest insights on China below.