Nevada Copper Corp T.NCU

"Luckily, copper finds itself in an area with great support"

[bogfit]

“… copper prices have been volatile in recent years, but the current chart structure of copper does not necessarily indicate a concern when it comes to the global economy and the condition(s) of the market. In a way, it confirmed that supply chain disruptions and inflation should be transitory, even though persistent.
 
Investors should pay attention to trends on the copper chart.

Dr. Copper Is Sending A Soft Warning Sign (msn.com)

The chart provided shows the price movement of copper futures over a period of 18 months. Looking at the chart, we can see that copper futures began a strong rally in early 2021. The rally peaked in May 2021, with copper futures reaching a high of $4.88 per pound. However, since then, the price of copper started a downtrend which ended with a double bottom in 2022 (July and October). Since then, a series of higher lows started.
 
Since last week, however, the rising trend that started in October 2022 is broken to the downside.
 
We better start paying attention now.  While this does not necessarily suggest that a crash is going to start or that the global economy is going to fall in a deep recession, it certainly bares watching.  Best case, copper is starting a consolidation. In the end, price action in 2023 is doing just that: consolidating. So, the probability of a continued consolidation is high.  However, the break of the falling trendline makes this setup more vulnerable."

What this view suggests is that the price of copper will hold at this level, but economic activity and stock prices may fall.
 
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