• 682 days Will The ECB Continue To Hike Rates?
  • 682 days Forbes: Aramco Remains Largest Company In The Middle East
  • 684 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,084 days Could Crypto Overtake Traditional Investment?
  • 1,088 days Americans Still Quitting Jobs At Record Pace
  • 1,090 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,093 days Is The Dollar Too Strong?
  • 1,094 days Big Tech Disappoints Investors on Earnings Calls
  • 1,095 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,096 days China Is Quietly Trying To Distance Itself From Russia
  • 1,097 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,101 days Crypto Investors Won Big In 2021
  • 1,101 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,102 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,104 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,104 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,108 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,108 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,109 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,111 days Are NFTs About To Take Over Gaming?
Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

How Millennials Are Reshaping Real Estate

How Millennials Are Reshaping Real Estate

The real estate market is…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

  1. Home
  2. Markets
  3. Other

The Technical Take: Copper

Copper, the metal with the Ph.D. in economics, remains in a range and has failed to break down giving hope to equity bulls everywhere.

Figure 1 is a weekly chart of a continuous copper chart. The pink and black dots represent key pivot points, which are areas of support and resistance (or buying and selling, respectively). As you can can see copper fizzled out 2 weeks ago at the 2008 highs of 4.0628; this past week it bounced off of support at 3.6191. (Sorry for the precision!) In any case, this is your trading range. A weekly close above the highs would imply robust economic growth; a weekly close below the lows of the range would imply a sputtering world economic recovery. This is a chart worth watching!!

Figure 1. Copper/ weekly
Figure 1. Copper/ weekly

 

Back to homepage

Leave a comment

Leave a comment