Copper Stuck Below Overhead Supply
We're outlining "Five Bull Market Barometers" that we're using to help answer the question of whether we're in a new bull market. Next up is Copper, which recently completed a multi-year top by breaking through support near 405-410. After a sharp counter-trend rally, prices are now retesting this major resistance level. Copper and Emerging Market stocks have a strong positive correlation, so if Copper is stuck below the overhead supply at 410 then we are likely not in an equity bull market.
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