Copper trading in an intermediate lateral band
Always make regular visits to Dr. Copper for his opinion on the overall health of the world economy. Right now, the Doctor is still evaluating the relatively negative economic data out of China. Maybe the upcoming earnings season will shed some extra light on the demand for base metals in China. Economic reports can be misleading but the top line of a company cannot be easily manipulated.
I have set my alerts as per the above chart and a breakout to the upside or downside will be a major signal for the resource based economies: Canada, Australia, Brazil and Russia.
Reference the last chart analysis for copper: still in the same lateral trading band.
View Kitco for updated charts and other time periods.
Relevant articles picked from the Web:
- Copper Demand And The Importance Of China — Seeking Alpha — April 9, 2012
Note: This technical analysis is for educational purposes so you can learn to trade online using candlestick charts. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The chart snippets are from BigCharts.com which I recommend and have used for fifteen years. The author of this article may hold long or short positions in the featured stock or index.
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