Copper price is breaking down from short-term resistance
Copper has held below resistance at around 4.30 for weeks after initially breaking down from the SMA 50. It has been a personal mental grind waiting for the macro to follow through fully on the summer cool down (in the reflation) thesis we (NFTRH) have had going for the last few months with items like copper cling cling clinging to a bear flag and failing to follow through.
Today, the good Doctor is following through and probably writing a money making prescription for those who prepared in advance. The daily chart is not broken by any means but I think you can guess where it may make its low. I anticipate that this is a healthy correction for reasons I’ll probably blab a lot about going forward.
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