My current picture of the price of Copper.

Resistance lines are being flirted with.

I expect the new yet weak short term rising daily trend to exhaust itself between $3.56 – $3.61 level.

This should see the S&P 500 and AUD/USD mimic this directional short-term move.

I’m watching out for a ‘bull trap’.

The downward medium term trend in Copper remains intact.

I would need to see Copper trade above $3.79 for that bearish medium term trend to wane.

October 24, 2022

by Rob Zdravevski

rob@karriasset.com.au