Copper goes lower before it can go higher

The Comex Copper price (current forward month is $3.86) is giving me an embryonic sell signal.

This means its early and the trend is lacking strength….because it’s early.

It’s not a ‘grand daddy’ of sell signals but one that needs to be watched, possibly to washout the participatory and meandering players before longer term bulls get set.

However, lower copper prices also have a hand in preceding lower bond yields, weaker GDP readings, lower commodity sensitive currencies and a decline in stock prices.

Although, this will be a timing thing.

May 4, 2023

by Rob Zdravevski

rob@karriasset.com.au