If the saying “So Goes Doc Copper, So Goes The Global Economy” is true, what Ole Doc Copper does from current levels will send an important message to global markets!
Doc Copper has spent the majority of the past two decades inside of bullish rising channel (1), as it has created higher lower and higher highs.
Since the 2011 highs, Doc Copper has spent a good deal of time creating lower highs and lower lows.
This downward price action has Copper attempting to break below its 20-year rising channel.
A horizontal support line has been created by Copper at the $2.50 level over the past few years.
Doc Copper is again testing the key support level this week at (2). What Doc Copper does at the $2.50 zone could well send an important message to the global markets!