Today’s Chart of the Day was shared on Twitter by Ian Cully (@IanCulley). It's a weekly candlestick chart of Copper futures over the past decade. Ian points out that Copper is attempting to break out from a multi-year base with resistance around $3.30. Price has failed at this level three times in the past six years. Will the fourth time be the charm? As we know, Copper is often viewed as a proxy for global growth and risk appetite. If price does break out here, it would be a bullish development for both U.S. and Emerging Market stocks.
Chart of the Day - Tuesday, November 17th, 2020
November 17, 2020
