The copper market has made a mild recovery during overnight trading and is near the middle of this week's trading range. Many traders feel the copper market came under pressure yesterday from the dialogue of Fed Chairman Bernanke. While the European equity markets received positive corporate earnings news, copper may not find enough carryover support to follow-through to the upside unless US economic data later this morning is better than expectations. With the initial gains in energy prices this morning, some traders are concerned that additional fears of slowing consumer demand might hold back equities and physical commodity markets. The copper market will also be looking forward to US domestic auto sales figures around mid session today.
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