Industrials Are Softening
Peter Brandt | Nov 12, 2018 12:08PM ET
Some Industrials are acting soft here. For copper, a decisive decline below 264 would complete a H&S failure pattern with a target of 235. I believe that the decline on Friday was a Wyckoff Sign of Weakness day – and Friday’s high should not be penetrated. I am willing to short copper if the market provides a measured-risk opportunity.
I spoke at some length about the silver chart during this past week’s Member Webinar. The decline on Friday completed a H&S failure pattern with a likely objective of 1360. Factor is short silver.
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