COPPER

Equities are testing new high levels. Currencies are volatile, especially after the latest sharp movements on JPY, GBP and EUR. Gold is testing a major support level. Commodities are lagging… and Dr. Copper is telling us the other side of the story. A year-long symmetrical triangle is close to completion. Breakdown from this symmetrical triangle can trigger a sharp sell-off on copper price. What implications would that have on the overall market. We know that copper is a leading indicator of economic activity. How would the already volatile currencies react? Breakdown below 350 levels could send prices towards 320 levels.