Spot Copper ($COPPER) has gone nowhere the last three months and a narrowing consolidation is taking shape. The pink lines show the Bollinger Bands narrowing as volatility contracts. This is confirmed by the bandwidth indicator, which is trading near seven month lows. Traders should watch range for a break to trigger the next directional signal.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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