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Copper is frequently looked upon as an economic leading global indicator. Its track record isn’t flawless, yet major moves is Copper often correlate with major moves in the stock market.
Over the past 100 days, the rally in Copper has formed a bearish rising wedge, with the bottom of the wedge breaking down pre-market this morning. Last Novembers low in Copper was also a low for the S&P 500.
One day a trend does not make! Watch what Copper traders do in the near future to see if Copper is sending a message about the global economy!
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