In prior posts we’ve noted copper is key to divine where the Chinese and global economy are headed. It was down almost 2 per cent today and at key short-term support and its 200-day moving average. It’s tracing out a descending triangle chart pattern, which usually resolves in a bearish move. If 3.70 on the nearest contract breaks, one more reason to play better defence.
(click here if chart is not observable)
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