LTN say's Buy Commodities...
Shayne and I believe that the risk-reward now favors going Long commodities, as economic is likely enough to tighten Key supply constrained markets in 2-H of this year, leading to higher prices from here.
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I suggest buying Crude Oil, Copper and Zinc and I see Brent Light Crude Oil gaining about 18% from here. .
Standard & Poor's GSCI index of 24 raw materials climbed 0.6% as of 2:35 pm in Tokyo, after yesterday 1.7% decline.
The MSCI Asia Pacific Index advanced 0.2%. Standard & Poor's 500 Index futures added 0.2%.
The Aussie climbed 0.4% to 1.0548, and the Kiwi rose 0.7% to 0.7955. The GBP declined against 15 of its 16 most-active peers.
Copper for 3 month delivery climbed 0.8% to 8,864 after earlier rallying to as high as 8,877.75 a metric ton on the London Metal Exchange. Prices fell 3.1% on Monday.
Zinc futures advanced as much as 1% to 2,141 a ton, snapping yesterday's 1.5% loss.
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Korea Zinc Co. jumped 7% in Seoul, while Jiangxi Copper Co. gained 0.6%, pacing the rally in metal prices.
About 5 shares gained for each 4 that fell on MSCI's Asia Pacific Index, which fell 2.6% in the prior 3 days. South Korea's Kospi index added 0.6% while India s Bombay Stock Exchange Sensitive Index rose 0.3%.
Economic reports Monday showed China's manufacturing may expand at a slower pace, a US Federal Reserve Bank of Chicago economic gauge unexpectedly dropped below Zero, while European services and manufacturing growth slowed more than forecast.
Industrial orders in the Euro Area fell 1.1% from February, when they increased 0.5%, the European Union's statistics office in Luxembourg will report that data Tuesday.
Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster's Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
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