Copper Boinks the SMA 200

Today copper hit the daily chart’s SMA 200, which was to be its next stop after failing support at 2.85. Dat’s now short-term resistance.

copper

Longer-term resistance has of course been the thick ceiling at 3 bucks. Until that is surpassed we do not go global macro cyclical, at least with an inflationary bias. It’s not rocket science. It’s Doctor Copper’s medicine or quackery.

copper

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