Courtesy of Chris Kimble.
Doc Copper is often viewed as a leading indicator, for global growth or lack of.
The 200 day moving average is often viewed as the line in the sand to determine if an asset is in an up or down trend.
Is Doc Copper climbing above its 200 day moving average a good or bad sign?
Below looks at Doc Copper over the past decade with the 200 MA applied.
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Copper peaked in 2011 and since, has continued to create a series of lower highs and lower lows. Since 2011, each time Copper has moved above its 200MA line, it has been a time to sell Copper, as it was near a peak, inside of this uniform falling channel.
Ole Doc Copper is now a small percentage above its 200MA at (1) above. Will it be a peak again for ole Doc Copper or will it be something different this time.
What Copper does at (1), could send an important macro message, per seeing if the down trend in Copper will continue.
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