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A protracted decline in copper typically signals a weaker economy ahead.
The interesting pattern is that copper has reached a major support level (c;ick on the chart to enlarge it).
Did you notice that in a major down day for stocks copper finished up? It could be a sign of strength.
Time will tell, of course.
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
Ranked Top Market Timer in 2009 and 2010 by Timer Digest
To find out more about my in depth views of the markets and my strategy just visit our website https://www.peterdag.com/ where you can subscribe to The Peter Dag Portfolio. You can also call me at 1-800-833-2782 to discuss your specific investment portfolio.
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1 comment:
I tried to duplicate your copper chart using StockCharts.com through Friday, June 4. But what I found was copper plunging on June 4 through support down to 281.95. However, you wrote "in a major down day for stocks copper finished up". Can you explain the discrepancy?
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