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Thursday, June 21, 2012

COPPER Weekly Chart Sideways Symmetrical Triangle

Dr. Copper led the way lower this year rolling over in February.  Note the long term sideways symmetrical triangle sending price out sideways.  Price is now struggling at the lower rails.  The indicators show sideways price behavior as well.  Stochastics are weaker than expected that provides a tiny hint that weakness is preferred.  Copper leasds the global economy and markets.  If price breaks out above the top rail at 3.7 or higher the all-clear signals for the bulls.  If price falls under 3.3, the bears win.  Watch this chart closely as the weeks play out. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your finanical advisor before making any investment decision.

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