Copper on verge of breaking lower

Carrying on from my May 2021 call and reiteration in June 2021, Copper continues its laddered decline closer to its longer term mean.

Today, Copper is perilously poised.

It is trading at $4.24 on the front Comex contract and a break below $4.17 could see a swift decline to the $3.65-$3.43 level.

Your stop loss on a new short entered here would be $4.37, while a move above $4.45 will help wane the strength of the current downtrend.

August 18, 2021

by Rob Zdravevski

rob@karriasset.com.au