The Copper ETN (JJC) is poised to challenge resistance after a channel breakout this month. Notice that the ETF successfully tested the spring-summer lows with a 5+ percent bounce this month. A break above the spring-summer highs would forge a higher high and argue for the start of an uptrend. The indicator window shows Spot Copper ($COPPER) also challenging resistance. Could 2014 be the year that copper plays catch up?
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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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