Copper has had a monster run to the upside. Its clearly going to affect aspects in the economy by applying upward pressure on inflation and downward pressure on home builders and construction. Copper surging shows resilience in the global economy but simultaneously high copper prices could cure this rushing demand. Copper technicals are screaming a pullback,...
Copper is very close to losing criyical support. If this daily chart trendline breaks, there is a big move down into the next support. Copper Equity stocks are already teing us aa likely breakdown in the commodity is coming. Is this base metal signaling weaker economic demand & growth?
After FCX took the key 48 Level with volume, its clear they s/r flipped it and are looking for ATH around 62. Do they get there this week? Watch to see what we think!
Keeping an eye on FCX for the completion of a cup and handle formation breakout. This is a great long-term investment as well, that pays a dividend.
FCX moving towards a finish in wave 3. Looking for a correction then final move in this impulse.
Recent price action in copper looks terrible.
Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart! Have a great day everyone!
Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart! Have a great day everyone!
The copper trend should commence once overhead resistance is taken out. Wave 3 should bring us to $3.42 per lb before our ultimate target of $3.50 - $3.60 later this year!