Copper - Daily - 6.2.16.png
Copper daily chart. This is not investment advice.
LOL, and not at you @Dink. Tim posted a Copper chart yesterday , and said ready to fall out of the channel. Talk about traders seeing what they want. Maybe a double Shoulder IHS coming.
That looks extremely bullish to me, but I also am not sure there's a legit fundamental reason to be that optimistic about copper
@Ballista: Fundamentals follow price. That's always how it was and that's always how it will be in the future. If you want a fundamental reason, I will give you one. The global economy is about to take off to the upside...big time. Is that ridiculous? Yea, if you ask a commoner or the public, they would laugh at me, but that is exactly why the economy will be very strong, because the public and retail traders are almost always on the wrong side of a price move at major turning points. No one believes the economy can be self-sustaining now that the FED has removed QE, but that disbelief is exactly why it will come true. No one believes the economy or markets can sustain themselves without FED support, which means there is a major counter-trend trade here to take advantage of that belief being wrong. China has bottomed and is about to take off to the upside big time and the US markets are near all-time highs. Price is telling us that the economy is going to explode upwards going forward from here.