Where Now, Dr. Copper?

In prior posts we’ve noted copper is key to divine where the Chinese and global economy are headed.  It was down almost 2 percent today and at key short-term support and its 200-day moving average.  It’s tracing out a descending triangle chart pattern, which usually resolves in a bearish move.   If 3.70 on the nearest contract breaks,  one more reason to play better defense.

(click here if chart is not observable)

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One Response to Where Now, Dr. Copper?

  1. Reblogged this on Lighthouse Securities and commented:
    This outlook fits with my bond piece earlier in the week and also this mornings Australian Dollar piece.

    As the guys from MacroMon suggest – might be time to play defense.

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