Here’s the Current Problem with Copper

Copper looks sick. And, that’s a bad sign for the global economy. [Jeff Clark's Market Minute]( Here’s the Current Problem with Copper By Jeff Clark, editor, Market Minute Copper looks sick. And, that’s a bad sign for the global economy. You see, the price of copper is widely viewed as a leading indicator of economic activity. Copper is used in electric wiring, plumbing, machines, and manufacturing of all sorts of products. So, when the price of copper is rising, it indicates strong economic activity. When copper is falling, economic activity is slowing down. Recommended Link [Financial genius reveals unusual investment strategy that works in ANY market]( [image]( Once you see this strange financial maneuver - you’ll never look at the stock market the same way again... [Click here for LIVE footage.]( -- The price of copper has fallen 10% over the past month. And, if the price doesn’t bounce soon, it could be headed for a freefall. That’s a bad sign for the economy. Here’s the chart of copper… [(Click here to expand image)]( Copper closed Tuesday at its lowest price of 2023. It’s just above an important support level near $3.60. If it loses that level, then $3.40 comes into play. The MACD momentum indicator at the bottom of the chart doesn’t show any positive divergence. In other words, it has been falling right along with the price of copper. That’s usually a bearish sign. It means the downtrend is intact. Any hopes for a rally are premature. On the other hand, the RSI and CCI indicators DO show positive divergence on this week’s decline in copper. This tells us copper MAY be gearing up for a short-term bounce – just as it approaches an important support level. So, we have mixed signals. That’s better than strictly bearish signals, I suppose. But, it’s hardly a ringing endorsement to “BUY BUY BUY!” 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. My best guess is that copper is setting up for a modest bounce once it approaches the support level near $3.60. Although, that bounce will be short-lived. The red metal is headed for a test of the $3.40 level and might even make it down to the July low near $3.20. That’s a bad sign for the economy, and a bad sign for the stock market. After all, the price of copper fell from $3.70 last August to $3.30 in September. The S&P 500 fell from 4300 to 3600 during the same period. Something similar could happen this year as well. Best regards and good trading, [Signature] Jeff Clark READER MAILBAG Have you used copper as an economic indicator before? Let us know your thoughts – and any questions you have – at feedback@jeffclarktrader.com. IN CASE YOU MISSED IT… [The “Amazon Secret Royalty Program” Can Help Anyone Retire Like Royalty]( A unique type of investment could help you make more money than you will need for the rest of your life. It’s what we call the “Amazon secret royalty program.” It’s an income stream that allows you to collect $1,000s… $10,000s… or more every year! In fact, Business Insider says this type of investment could provide “enough money to live off of each year, without having any other retirement plan...” “Royalties” are the most exciting investments in history. Put simply, they’re periodic payouts… That could deliver all the money you need for your retirement… While these “royalties” are different from traditional royalties, just one could hand you enough income to live life on your own terms. And it only takes a few minutes to set up. [Learn how to collect your first payout before June 13th.]( [image]( [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. To contact Customer Service, call toll free Domestic/International: 1-800-752-0820, Mon–Fri, 9am–7pm ET, or email us [here](mailto:contactus@jeffclarktrader.com). © 2023 Omnia Research, LLC. All rights reserved. Any reproduction, copying, or redistribution of our content, in whole or in part, is prohibited without written permission from Omnia Research, LLC. [Privacy Policy]( | [Terms of Use](