Crude Oil at Risk on US Spending Cuts, Copper Breaks Down

courtesy of DailyFX.com February 19, 2013 05:01 AM Crude oil is at risk despite buoyant risk appetite as US “sequester” spending cuts loom just over a week ahead. Copper has completed a bearish technical breakout. Crude oil is at risk despite buoyant risk appetite as US “sequester” spending cuts loom just over a week ahead. Copper has completed a bearish technical breakout. Talking Points [LIST] [*]Commodities Little-Changed Despite Risk-On Mood Before Wall Street Open [*]Looming US “Sequester” Spending Cuts May Undermine Sentiment Trends [*]Copper Prices Complete Multi-Month Bearish Technical Pattern, Aim Lower [/LIST] Commodity prices are trading little-changed ahead of the opening bell on Wall Street despite a swell of risk appetite in Europe and increasingly supportive pre-open cues from S&P 500 futures, where prices have now pushed into meaningfully positive territory. The chipper mood seems to be following a dramatically stronger-than...



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