I’m going all chartyfarty on you today with a look at copper from two different timescales. Here’s the daily candle chart for May futures……
…and here’s the same May futures contract, but the 60 minute candles to take a better look at the recent drop.
So after staring a bit and sticking my thumb into the breeze, Now that the long-expected swoon in copper has started I’d expect it to revisit $1.70/lb again…more or less. Or in other words, if you don’t have any already (and you should…told you enough times) generate some cash and have it on hand for the buying opportunity to come. And be patient, cos there’s no reason to be bought in all the time. And DYODD.