Copper is such a key component in manufacturing (from housing to airplanes to automobiles) that its direction is often a great proxy for global economic output. Rising copper prices equates to booming economies; falling prices equates to contraction. Talk of austerity is contractionary not expansionary and so it should not surprise us to see Copper prices falling. Considering seasonality factors too, once into May, I would be more than happy to sit on the short side of this market and see where it takes us....
Comments
CRInvestor
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Stunning how now the market itself has set up the prettiest of double bottoms (W) right off the midpoint of the HTF reload zone level.....remarkable
CRInvestor
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Wasn't a bad call, eh (hehe)
DagongZhu
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mightbe a trendline false break. hard to find a good short setup now