Copper signaling recession ….
Posted By Guest Author On September 29, 2011 @ 11:30 am In Commodities,Economy,Markets | Comments Disabled
FusionIQ’s Kevin Lane notes: Copper as seen on this weekly chart through last tick has broken two supports first near $ 50.00 (red line) and second (green line) near $ 46.00 – this free fall on volume is more indication that the market believes we are in a recession given copper’s ties as an economic metal.
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Copper Trend (2008-11)
[1]
Source: FusionIQ [2]
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URL to article: http://www.ritholtz.com/blog/2011/09/copper-signaling-recession/
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[1] Image: http://www.ritholtz.com/blog/wp-content/uploads/2011/09/charto.jpg
[2] FusionIQ: https://www.fusioniqrank.com//
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