Jim Letourneau's Blog

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Copper Starting to Spring

Copper looks very interesting right now. I get the sense that the financial community is in denial about raw materials shortages. Speculators observe and I see an interesting move in the copper price. There is a breakout above the downtrend line and an important Fibonacci retracement level*. Prices could still pull back for a few days but I like how this chart is developing.

IF the price of copper starts a new uptrend we would expect some strong price appreciation in junior copper producers and explorers. In preparation for that possibility, the current edition of the Big Picture Speculator contains a nice list of copper companies. If you want to take a look at it, sign up for a free no hassle 30 day trial. It should be on our website within the next few hours.

Copper Futures

*Check out the Elliot Wave International site for more information of Fibonacci retracements.