NFTRH has been bearish on Doctor Copper for years due to the pattern and the bear flags it had a habit of making. Then last year when it broke the neckline we were able to add a target. So far, so good for 1.50/lb. The critical bear flag to test the breakdown failed over the last 2 months, as expected.
Implications? Deflation. Potentially economic deceleration and a rush to liquidity AKA Uncle Buck. Gold? I have noted for years that any expert talking about “the metals” (i.e. gold, silver, copper, tin, nickel, platinum, palladium, etc.) as if they are a uniform asset class, should be tuned out. That still applies.
We are in a financialized economy* and different assets play different roles at different times within that regime.
* With debt being the foundation of it all.
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