March 30, 2004

Chart of the Day: Going Short Copper

Within the commodities complex, you have some commodities in bull markets, and others in not so bullish markets. In fact, while the general trend of commodity prices will be up, you'll also see exceptions to the rule. Copper may be one of them, as the chart indicates. The chart is below is a one year chart for Southern Peru Copper Corp (PCU). You can see that the 50-day moving average has rolled over and is moving down. It will either bounce off it and go lower, or breakthrough. I'm looking for the bounce off. Copper Complex Roling Over?


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