Intermediate trend is down for copper

Copper is seen as a leading indicator for the global economy. The intermediate trend for copper is down which does not bode well for equities overall and commodity based equities in particular.

Reference the last chart analysis for copper posted on May 18, 2012.

View Kitco for updated charts and other time periods.

Relevant articles picked from the Web:

• Copper/gold ratio: Stimulus fever skews key market indicator — Globe — September 14, 2012
• Copper stocks in bargain territory — FP — June 19, 2012
• Copper prices pull back from three-week high — FP — June 19, 2012
• Copper prices steady ahead of uncertain Greek election — FP — June 14, 2012

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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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