Dr. Copper still has a negative prognosis for the world economy
Copper 3 Year Weekly Chart courtesy of StockCharts.com
Nothing has changed since I last analyzed copper on June 22, 2013. The major trend is down. The intermediate trend is down. And copper is trading below the 50 day and 200 day moving averages.
What implication does this have for the TSX Index? The TSX index is currently in a near-term uptrend but there is no way it will break major resistance of 12,900 unless there is an upward movement in copper.
Relevant articles picked from the Web:
- As demand for resources moderates, the Canada-China ‘honeymoon is over’ — Globe — July, 24, 2013
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