Copper and the Copper/Gold ratio

Copper price (futures) clings to intact status

Doctor Copper obviously failed again after a brief head fake above the moving averages. Doc is the cyclical economic metal. It clings to its laborious sideways trend of the last year.

The Copper/Gold ratio (i.e. the cyclical doctor vs. the counter-cyclical metal) also labors sideways, but with a slightly negative trend. Considering that gold is having troubles of its own it’s not very reassuring macro signaling.

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