• 209 days Could Crypto Overtake Traditional Investment?
  • 214 days Americans Still Quitting Jobs At Record Pace
  • 216 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 219 days Is The Dollar Too Strong?
  • 219 days Big Tech Disappoints Investors on Earnings Calls
  • 220 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 222 days China Is Quietly Trying To Distance Itself From Russia
  • 222 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 226 days Crypto Investors Won Big In 2021
  • 226 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 227 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 229 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 230 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 233 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 234 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 234 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 236 days Are NFTs About To Take Over Gaming?
  • 237 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 240 days What’s Causing Inflation In The United States?
  • 241 days Intel Joins Russian Exodus as Chip Shortage Digs In
  1. Home
  2. Markets
  3. Other

Copper

It seems like yesterday that we were being constantly barraged with stories in the media of vandals ripping up and stealing copper pipes, wires, etc. from housing projects, airports and the like. With the price of copper down over 40% from its peak in 2011 those stories are few and far between.

Often called the metal with a PhD. in economics (given its ability to forecast the general economy), copper experienced its largest drop since April 2012 on Friday on China credit fears (the nation's first corporate bond default). Welcome to capitalism, comrades!

Friday's 3.87% drop turned my bandwidth indicator, BWI, up in confirmation. BWI is a simple measurement of the distance between Bollinger Bands (20, 2) overlaid on 14-day RSI. The assumption is that a rising BWI accompanies the true trend and a falling BWI is refusing to confirm the apparent trend.

The lows from Oct'11 and June'13 may provide support 0.15 lower than Friday's close near 3.00. My first price target is 2.96.

Copper HG Composite Continuous
Larger Image

 


Want to know more about the work of George Lindsay? Order your own copy of the George Lindsay Training Course at SeattleTA.

 

Back to homepage

Leave a comment

Leave a comment