Merry Christmas Eve to everyone. I hope you all enjoy your holiday and get the opportunity to spend time with friends and family. My piece for TraderPlanet just got posted and this week I take a look at the pattern being formed in copper. The copper market is often used as a popular metric for risk assessment, many times creating divergences with equities at tops and bottoms. This is one reason why many traders will be keeping an eye on copper over the next few weeks.
Here’s a blurb:
For the last year copper has created a large symmetrical triangle, which is often viewed as a continuation pattern. What makes the pattern that’s taking place in copper interesting is it’s not really being formed at the top of a trend or a bottom.
Go read the rest: Commodity Set Up: Copper Triangle (TraderPlanet)
Disclaimer: Do not construe anything written in this post or this blog in its entirety as a recommendation, research, or an offer to buy or sell any securities. Everything in this post is meant for educational and entertainment purposes only. I or my affiliates may hold positions in securities mentioned in the blog. Please see my Disclosure page for full disclaimer. Connect with Andrew on Google+.