IKN

drowsy syrups of the world

Chart of the day is…

…copper:

It’s the chart I’ve been watching most closely all week and as a metals long yeah, it’s been with a concerned eye. Copper futures have traded under $3/lb all week and threatened to break under the (what seems like) key $2.80 level, though admittedly trading and volumes ahve reportedly been thin in this pre-Christmas period (normal). This morning’s brought a little relief, but it’s only a little and there’s still plenty to watch here. A far more important chart than anything around gold.

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