What Is Copper Telling Us?
I am going to keep this piece, short and sweet as I believe the charts below will speak volumes about where we are in these markets and more importantly, where we are heading.
The world seems to be on the verge of a meltdown but, if so, why are some of the commodities telling a different story?
Copper has been on our watch list for sometime now as it is a leading indicator of economic investment and strength and with the recent upside breakout on March 2 all we can say is that copper is trying to tell us something.
As well crude oil has found a bottom and heading higher and we are sitting at overhead resistance of $35 and looking good.
Of course we are biased as we are serious investors in the precious metals, but gold also is trying to tell us something as we are on the verge of breaking to the upside out of this triangle formation (see below) and heading to the $1400 area. Gold seems to be sensing some monetary panic is coming from Central Bankers.
I am highly bullish on the precious metals sector…and the common shares and stock warrants. If you are interested in learning more about my services please join me at http://commonstockwarrants.com/.