Spot Copper Price Testing Three Year Downtrend Line

By | July 13, 2014

The spot copper price is once again testing a downtrend line on the weekly chart that has provided resistance for the last three years, just as the 50% retracement level of the 2009 low and the 2011 high has been providing support. A breakout would suggest a shift in the longer term direction of copper prices and the formation of a multi-year triple bottom.

42. RVT copper chart

42. RVT copper close  chart

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.