A series of geopolitical concerns are supporting the market. |
Losing Iran supplies will have a massive impact on the market, and there is no way that other Middle East producers are going to be able to make up for that loss. |
Metals are rising very fast, but this bullish trend should stay during the first half of the year. |
Prices will remain volatile for a while, but I don't think copper will fall repeatedly as the long-term trend for the metal is still considered to be bullish. |
Risks that have been supporting the market remain unresolved, and China's strong demand will have impact on the market fundamentals. |
The biggest concern is Nigeria's sabotage attacks over the weekend. But other supply concerns, like OPEC and Ecuador, are accumulating. |
The market has been volatile recently and overall falls in commodities, including oil, dragged down copper. |
The only news will be the U.S. stocks. But on the geopolitical front, the upside risk is more than the downside. |
There has been some position-squaring before the Easter holidays. |