We couldn’t just have one “Chart of the Week” this week. We need two.
Figure 1. Copper/ weekly
Our bonus “Chart of the Week” is a weekly chart of copper, that metal with a Ph.D. in economics. Copper has closed below the 370 support level, and this is bearish. This is a reflection of global economic weakness. “Risk off” appears to be the predominant theme amongst various asset classes. Proceed with caution.
Category: Technical Analysis