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Friday, April 26, 2024

Copper: Back into the Stupid Zone

Copper: Back into the Stupid Zone

Courtesy of Ben, the Financial Ninja

 
copper chart
 
FN: The highlighted area is the "stupid zone". Over a three year period between 2006 and the end of 2008, copper went parabolic several times before finally breaking down. Copper has now rallied back to the underside of the "stupid zone". Resistance should be significant.

Note: Real Estate is one of the largest sources of demand for copper.

 

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