With China slowing down and cutting interest rates and the EU getting ready to amp up its QEternity, here's a look at Mr. Copper which can be a leading economic indicator as copper is used in practically everything. There's a bit of a shortage going on, but it doesnt look good after breaking two long-term supports. The next one is at the 50% retracement which is around hereabouts.
[img width=1024]http://i61.tinypic.com/55rzmt.png[/img]
A Technical Look at Mr. Copper
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A Technical Look at Mr. Copper
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Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!
Disclaimer: I am not a broker, dealer, investment advisor, physician, theologian or prophet. I should not be considered as legally permitted to render such advice!