In addition to the strength in precious metals highlighted in our weekly Global Technical Trends, 26 November 2012, some of the base metals are also exhibiting bullish potential. Copper is a case in point, where a small basing pattern warns of further upside. One of the catalysts is the generally weaker US dollar, as EUR/USD is threatening an important resistance area. Among Asian currencies, the PHP is a strong candidate for further appreciation against the USD.
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Barclays Capital