Copper’s been a leading market indicator for so long that’™s it’s nickname is Dr. Copper. It’s most recent diagnosis has been a bearish movement in the S&P 500. If this morning’s German vote to again economically support the EU, followed by the lower jobless claims number pre-market is any indication of a bullish move we’ll need to let Dr. Copper tell us. Below is a chart of the December copper contract with a few resistance lines drawn in blue which would server as bullish indicators for such a confirmation.
Levels of resistance are noted in the chart.
