Near-term downtrend for copper

Yes, Dr. Copper has a tepid prognosis for the world economy
Near-term downtrend for copper with support at  $3.40

Copper Weekly Candlestick Chart – courtesy of

The near-term trend for copper is down and trading below the 200-day simple moving average.

Copper and the TSX Composite Index are positively correlated. Don’t expect any major upward movement in the TSX unless copper makes a move above resistance.

Reference the last chart analysis for copper showing the positive correlation with the TSX Composite Index.


Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

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