what are the charts telling us & is near the bottom?
------------------------------------...
Charts telling us: it is not sure if NOT is near the bottom, but 0,47$ is the lower low YTD.
I do not think it is the better time to buy...
With actual metal (and commodities) price, around 50% of worldwide metal plant do not make money.
IMO, Majors in commodities must announce plant closure:
Some announcement of closure today:
http://www.orlandosentinel.com/busin...
http://www.reuters.com/article/marke...
JMHO,
Near term: more plant closures needed to lower inventory,
Working Bailouts needed in USA, China and Europe
Around March 2009: Metal price will begin to rise again ...