The Stage Is Set for This Metal’s “Snap-Back” Move

It’s probably a good time to bet on copper. [Jeff Clark's Market Minute]( The Stage Is Set for This Metal’s “Snap-Back” Move By Jeff Clark, editor, Market Minute The price of copper has been crushed. Just five weeks ago the metal was trading for $4.50 per pound. It’s now at $3.40. That’s a 24% drop in just one month. This action has wiped out all the gains from the last 18 months. Now, copper is more oversold than at any time in the past 10 years. But this sort of rapid decline in a commodity’s price often creates the conditions for a “snap-back” rally. So, it’s probably a good time to bet on a rally in the price of copper. Recommended Link [Former Goldman Sachs PhD: “Never returning to normal”]( [image]( PhD Economist: “Don’t Bet on It” According to former Goldman Sachs executive, Nomi Prins… Americans who are hoping for a ‘return to normal’ are going to be shocked when they see what happens next in America. She says, “If you’re betting your job, savings, or retirement accounts on a return to ‘normal’ you’re about to be left behind by a brand-new crisis few see coming.” [Click here now to see America’s next crisis.]( -- The last time we were looking for a copper rally was [back in November 2021](. Copper had broken out to the upside of a bullish pattern and it was pulling back toward a support level. Back then, at $4.30 per pound, we figured there was a good risk/reward setup for a move up toward $5.00 or so. It took a few months, but the price of copper eventually rallied as high as $4.95 before peaking in March. But today, we have a different sort of a setup. Instead of breaking out from a bullish pattern and then consolidating, copper has broken down badly. The chart looks like death. But it’s from this sort of chart that sharp, oversold bounces can occur. Here’s how copper looks right now… [(Click here to expand image)]( The price of copper rarely strays more than 10% away from its 50-day moving average (MA – blue line) before reversing back toward the line. During its October 2021 and March 2022 highs, copper traded 10% above the 50-day MA. In both cases, copper reversed and dropped back toward the line shortly after. At its May low, copper traded about 11% below its 50-day MA. Three weeks later, it was trading back at the line. Free Trading Resources Have you checked out Jeff's free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. On Tuesday, copper closed at $3.41 per pound – nearly 19% below its 50-day MA line. That’s an extreme move. [Are cryptos useless? Rare “loophole” exposes the TRUTH…]( All the various moving averages also expanded far away from each other (green and red lines). So, the stage is set for a “snap-back” move. Of course, it’s not a guaranteed rally. But, if copper behaves as it has during previous extreme conditions, then the metal could trade above $4.00 per pound within the next few weeks. That’s better than a 17% gain from the current price. And it looks like a good risk/reward setup. Best regards and good trading, [signature] Jeff Clark P.S. While copper is preparing for a rally, many other stocks are crashing with no end in sight. Every time stocks look like they’re moving up, they crash right back down. Markets and investors are reaching their breaking point. But this is the type of market environment I’ve thrived in during my four-decade long career. I’ve been most profitable during the 2008 and 2020 crashes. And now, I want to [help everyday folks profit during market chaos](. I’ll reveal the strategy I use and even give away three tickers on my watchlist. I’ll go over all the details during my summit on Wednesday, July 13 at 8 p.m. ET. The days of the buy-and-hold investor are long gone. To find out the new way to make money, just [click here to sign up](. Reader Mailbag What other commodities do you think are positioned for a rally? Let us know your thoughts – and any questions you have – at feedback@jeffclarktrader.com. In Case You Missed It… [Millionaire Who Called ‘Tech Meltdown’ Is Back With New Prediction!]( Months ago, Jeff Clark warned everyone: DO NOT buy Tesla, Apple, Bitcoin, or Amazon. Since then, what’s happened? - Apple is down -19% - Tesla is down -34% - Amazon is down -31% - Bitcoin is down -56% Instead of getting caught up buying overpriced tech stocks for devastating negative returns… [Jeff’s joined the ranks of the top 1% of wealthy Americans… by IGNORING 99% of the entire stock market.]( Trading only ONE stock, over and over again. [Using this one stock through the crashes of 2000, 2008, and 2020 to deliver gains like 390%]( and more – time and time again. Today he will reveal the ticker symbol and name of the stock, 100% FREE. [Click Here To Discover The Secret]( [image]( Get Instant Access Click to read these free reports and automatically sign up for daily research. [The Gold Investor’s Guide]( [How to Earn Free Bitcoin]( [An Insider’s Guide to Making a Fortune from Small Tech Stocks]( [Jeff Clark's Market Minute]( Jeff Clark Trader 55 NE 5th Avenue, Delray Beach, FL 33483 [www.jeffclarktrader.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Jeff Clark Trader welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. 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