Last month, I told you about the ugliest chart in the market.
Copper was sitting precariously close to an important long-term support level. If it broke down, I said it could lead to a sharp decline.
That's exactly what happened.
The price of the metal has fallen 13% so far this year.
But now, the "ugliest chart in the market" is starting to look a little better...
Take a look at this updated weekly chart of copper...
As I said, the price of copper has fallen 13% so far this year. And looking just at this weekly chart, the metal could fall further from here before hitting support at about $2.20 per pound. (more)Please share this article