With a sharp decline this month, the Copper ETF (JJC) entered a support zone that extends back to the 2010 lows. The ETF also become oversold as RSI dipped below 30 for the first time since September 2011. The knife, however, is still falling as long as RSI remains below 30.
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Click this image for a live chart
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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