Where Now, Dr. Copper?

In prior posts we’ve noted copper is key to divine where the Chinese and global economy are headed.  It was down almost 2 percent today and at key short-term support and its 200-day moving average.  It’s tracing out a descending triangle chart pattern, which usually resolves in a bearish move.   If 3.70 on the nearest contract breaks,  one more reason to play better defense.

(click here if chart is not observable)

This entry was posted in Commodities, Economics and tagged , , . Bookmark the permalink.

1 Response to Where Now, Dr. Copper?

  1. Reblogged this on Lighthouse Securities and commented:
    This outlook fits with my bond piece earlier in the week and also this mornings Australian Dollar piece.

    As the guys from MacroMon suggest – might be time to play defense.

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