Nothing would be better than $COPPER jolting higher. Unfortunately, lightning has not struck and sent this to higher ground. It's tepid at best, and the miners below are not staying above the 10 week, even though $COPPER is.
This could be back underwater soon. There continues to be no current coming through this $COPPER chart.
$COPPER is the best evaluator of Economic recoveries worldwide. Caution is warranted.
Good Trading,
Greg Schnell, CMT
About the author:
Greg Schnell, CMT, MFTA is Chief Technical Analyst at Osprey Strategic specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).
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