A Technical Look at Mr. Copper
Posted: Fri Nov 21, 2014 9:39 am
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]
[img width=1024]http://i61.tinypic.com/55rzmt.png[/img]