Wednesday, September 28, 2011

Copper Futures Down >30% in Two Months (FINVIZ)

In the global capital markets, copper is considered by some as a bellwether - and as posted on September 16th HERE - weakness in copper has continued, and even accelerated.  There is a  wide variety of potential trouble spots in the global economy - collectively, this broad scale behaviour is not encouraging to a positive outlook.  How deep with this decline be?  If support is found at the 31.00 level for copper, maybe the EuroBailOut Part XX will allow for another rally - but technically  - breaking 31.00 leaves some pretty open sailing to the 2009 lows below 1.50.

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