This week, the markets were all over the place — but copper? It held firm.
Gold and silver both pulled back after big runs, and the S&P 500 stayed stuck in the mud…
But copper quietly stayed near its highs, holding above the breakout level and refusing to roll over.
And that kind of relative strength matters.
Because when everything else is whipsawing around and a key industrial metal like copper refuses to drop, it tells you traders are still betting on demand holding up.
With earnings season approaching and a stacked calendar of economic reports next week — including Durable Goods, New Home Sales, GDP, and PCE — copper might be one of the first places we see a directional move take shape.
I discussed all this and more in today’s 3-minute Weekly Wrap-Up video.
Don’t miss it — get caught up on everything that happened this week and what to watch for in the coming week.
Click here to watch the full breakdown now!
Stay sharp,
—Geof Smith
P.S. One key recession indicator just popped and I believe it is going to send one ticker SOARING. Register to get all the details here!
No comments:
Post a Comment