Copper is a tough one.  If copper hangs in and hints at an ‘inflation trade’ (i.e. anti-USD) bounce to come, I’d like to buy COPX or FCX.  The charts are coming along nicely.  COPX was NFTRH+’d recently for just such an occasion.

The weekly chart of copper is trying to hold above a downtrend breakout line and hold a trend out of March.

But the monthly chart is still disgusting, a year or so after it was created…

And today a look at a daily chart (when it updates after the market closes) would show the good Doctor dropping below both the MA’s 50 and 200.  We had been watching 3.18/lb. as a key level.  Here’s the Kitco view…