The Canadian Technician

This Flag is Beautiful

Greg Schnell

Greg Schnell

Chief Technical Analyst, Osprey Strategic

For a technician, today's flag pattern is an absolute gem. The hardest part for an investor is having the patience to sit through a flag as it develops. But that patience is rewarded when the flag finally breaks out in a continuation of the prior trend. Today, the launch out of the flag pattern is pretty sweet. The most amazing part is that a breakout of this significance is hiding in a commodity. Who knew a copper chart could flag this nicely?

So what does a breakout of a flag imply if you are not a technician? A continuation of the uptrend, but we have to wait for the breakout. That happened this week.

The copper names are flying.

Southern Copper (SCCO) is also on the move.

Lots of nice mining charts are in play. You may find some trades you like in the metals and mining industries.


Good trading,
Greg Schnell, CMT, MFTA
Senior Technical Analyst, StockCharts.com
Author, Stock Charts For Dummies


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Greg Schnell
About the author: , 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). Learn More