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Chart of the Week (Bonus!)

We couldn't just have one "Chart of the Week" this week. We need two.

Figure 1. Copper/ weekly
Weekly Copper Chart
Larger Image

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.

 

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