Copper showed some distinct weakness today, whilst equities largely remained flat.
Copper, daily
Copper, weekly
Summary
The daily cycle is clearly ready to rollover. The big question is whether the weekly cycle is about to also rollover, and put in a much smaller tower/up cycle. If Copper can break below 3.70..and soon after..3.60, then it might be a prime sell signal for the broader equity and commodity markets.
Its certainly something to watch for the remainder of this week.
Goodnight from London
Copper, daily
Copper, weekly
Summary
The daily cycle is clearly ready to rollover. The big question is whether the weekly cycle is about to also rollover, and put in a much smaller tower/up cycle. If Copper can break below 3.70..and soon after..3.60, then it might be a prime sell signal for the broader equity and commodity markets.
Its certainly something to watch for the remainder of this week.
Goodnight from London
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