MF Global Daily Report: Base Metals (Aug. 19, 2011)

Aug. 19 (MF Global) -- This market comment was written at 7:50 a.m. on August 18th, US east coast time...

Metals closed higher yesterday, with copper hitting a one-week high by briefly poking above $9000 resistance before retreating. Markets exhibited considerable more volatility than what we saw earlier in the week, as crude oil pushed up by about $2/brl at one point only to give up half its gains later in the day. Similarly, the Dow was up by some 120 points at mid-session before it also closed roughly unchanged.