Doc Copper often times 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 long-term trend for Copper 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 Doc 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!
–
