Copper futures are at a pretty interesting spot right now. Several bearish patterns have formed on the weekly chart and sentiment is extremely negative. Yet, price hasn’t broken down and it continues to trade above support. Copper is an important industrial metal used in construction, machinery, electrical equipment and more. Because of its numerous industrial applications, […]
Chart of the Day – Thursday, August 22nd, 2019
Today’s Chart of the Day was shared on Twitter by Matt (@commander10). It’s a weekly candlestick chart of Copper futures. Matt points out three different bearish patterns that have developed on the chart. The first being a bearish head and shoulders pattern that has been forming since 2017. He adds that the right shoulder of […]
Chart of the Day – Monday, August 12th 2019
Today’s Chart of the Day was shared in a research note by Jeffery Huge of Alpha Insights (@Alpha_Insights). It’s a weekly bar chart of Copper Futures over the past three years. The chart highlights the bearish Head & Shoulders pattern that’s formed. Confirmation of this pattern occurs when price breaks below the red horizontal line known […]
Chart of the Day – Friday, August 2nd 2019
Today’s Chart of the Day was shared on Twitter by Tarek Saab (@FibLines). It is a weekly chart of Copper futures over the past 20 years. Tarek points out that Copper is in danger of breaking down from both the 200-week moving average, as well as a long-term trendline. Copper is an important industrial metal […]
An Unusual Environment
Yesterday, Chris Verrone of Strategas appeared on Real Vision to give us his take on the current environment in markets. He believes that the Fed is the root cause for the rallies we have seen in equities, bonds, and even Gold. So, why are all three of these asset classes trading in sync? Chris notes […]
