Commodities - This commodity is breaking out to new highs

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This commodity is breaking out to new highs

Friday, November 20, 2009
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From Commodity Trader:

December copper futures on the Comex division of the New York Mercantile Exchange on Wednesday hit a fresh 14-month high of $3.1720 a pound. Price action this week has also seen a bullish upside technical "breakout" from a sideways trading range at higher price levels that had been in place for three weeks.

The red industrial metal is also in an 11-month-old uptrend from the December 2008 low of $1.3115. The copper bulls this week have gained fresh technical momentum...

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Topics:		Commodities

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