Copper’s Decline Has Checked Up, but It’s Now Back into Resistance

April 08, 2014
By Knowledge Leaders Team in Uncategorized

The dramatic decline in copper prices that took place at the beginning of March has taken a breather over the last two weeks as the metal has retraced about 37% of the decline that began on March 6th. A relief rally of sorts is common after such a large and sudden move lower, but copper now finds itself running into a key resistance level at around $3.06. It’s price behavior at this critical juncture should be watched carefully since copper is seen as a leading indicator of economic growth.


Copper doesn’t look soo hot in our point & figure work as the trend is still clearly down.


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