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Here Is The Problem: February 22nd, 2019 by John Gross

Continued negative headlines tell us that markets should be falling, but markets must be suffering from dyslexia, because they continue rising.

Two recent articles underscore this dilemma.

This week’s Barron’s Commodities Corner was entitled ‘Will Copper’s Revival Last?’

One person with a Bullish view expects consumption to rise, primarily as a result of growing demand for renewable energy, and electric vehicles.

Further, he cites the ICSG forecast of a 65,000 mt deficit this year, and China’s importing 479,000 mt of copper in January, the second highest level on record.

The Bearish outlook points toward slowing growth in the United States and China, rising inventories held in Shanghai warehouses, and the potential of trade issues not being resolved.

Who is right?

The second article, published in the Financial Times poses the question ‘Can Gold Maintain Its Rally?

Here too, analysts present various reasons for gold to continue moving higher, while others express caution.

To state the obvious, no one really knows what is coming down the road.

Here Is The Solution:

And that is why price charts, with their points of support and resistance, along with the historical perspective they offer, help to serve as a guide on market direction.

So take a look at the charts and statistics, and draw your own conclusions.

As for me, I am asking myself if we are looking at a repeat performance of 2016?


View Charts (PDF)