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Copper has declined close to 7% from its recent highs, which has brought it down to support at (1) in the chart above.
Game Plan… Am looking to be a buyer of Copper at support, via Copper futures or JJC. JJC needs to decline more before I would pick it up though.
Should support give way, which it hasn’t at this time, Copper could be sending a “macro clue” on the economy. Should support give way down stream, will be looking to score on defense via basic materials inverse ETF (SMN)…
