Copper New Move Up In The Making?
March 18, 2013 by Leave a Comment
The last time we analyzed copper, we were buying at $3.75, anticipating an upside rally to the $4 area. Next day, we were stopped out with a few cents loss, and price has dropped recently to as low as the $3.47 area. Based on the speed of the decline and the heaviest volume along the way down, copper should drop even further, or so one might think. Past history on a chart is important, but the most important part of all is the present tense developing market activity because it is the culmination of all previous efforts. We take another look at what the market is saying about where it may be headed.