It's breaking out of a really nice consolidation on the monthly and weekly charts and the charts look bullish. If copper can BO and stay above 4 for a week or two I think this is bullish for the metals. Industrial metal commodities have been in a LT correction/basing process for many months.
Copper
Started by
Cirrus
, May 05 2008 08:16 AM
3 replies to this topic
#2
zman
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Posted 05 May 2008 - 09:14 AM
Front page of our Oklahoma paper...Copper theft at epidemic levels...
Education is the best defense against the media.
#3
Cirrus
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Posted 05 May 2008 - 09:33 AM
The weekly copper chart has tremendous bullish potential with a nice two year inverse H&S consolidation. Commodities trade a little differently than stocks IMO as they are more attached to reality and fundamentals--of course that's my opinion.
A convincing break above 4 on the weekly that holds would be bullish LT for copper. FWIW with peak oil the world is going to need a lot of copper as electricity will play a much greater roll in everything.
#4
zman
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Posted 05 May 2008 - 09:52 AM
The weekly copper chart has tremendous bullish potential with a nice two year inverse H&S consolidation. Commodities trade a little differently than stocks IMO as they are more attached to reality and fundamentals--of course that's my opinion.
A convincing break above 4 on the weekly that holds would be bullish LT for copper. FWIW with peak oil the world is going to need a lot of copper as electricity will play a much greater roll in everything.
Totally agree with that...
Education is the best defense against the media.
