Doc Copper Suggesting Slower Economic Growth Ahead?

by Kimble Charting

Is Doc Copper of late suggesting the economy is about to slow down? Possible!

Copper futures have remained in a trading range since last summer, with resistance around $2.95 and support near $2.60.

Over the past couple of months, Doc Copper has traded sideways near the top of this trading range at (1).

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The past couple of weeks Doc Copper has declined in price, taking it below short-term rising support as lofty momentum is attempting to turn down.

A break of support this week opens the possibility that Copper could head back towards the bottom of the range. If it does fall to the bottom of the range (-10% decline) odds increase ole Doc Copper is suggesting a slight slowdown in the economy.

Keep a close eye on Copper futures to see if they starting heading towards the bottom of the range at (2).

 

 

 

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