Is Copper About To Hurdle Important Breakout Level?
Chris Kimble | Feb 19, 2019 01:55PM ET
Copper often sends important messages to the global economy reflecting growth or lack thereof. An important price test is currently in play for Ole Doc Copper!
The metal's long-term trend remains up, as it has created a series of higher lows for the past 18 years along line (1). Over the past few months, copper could be creating a double bottom just above this long-term rising support line at (2).
The small rally of late has copper testing the top of its 6-month trading range at (3).
Can ole Doc Copper hurdle this important breakout level? Keep a close eye on copper at (3), as it could be about to send an important message to many markets by what it does at this key price point.
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