Copper U.S. High Grade Futures (217)

As I see it, copper remains in a powerful long term uptrend. In recent weeks we have witnessed another of many stepwise pause periods, this time below short term resistance at 220.

My unique short and intermediate term price momentum models indicate that we may have to wait for a time to move above 220. In early 2004 a pause with similar characteristics produced a brief price decline that approached 20 percent in magnitude without impairing the longer term uptrend.

In spite of the powerful indicated long term uptrend, this game is not for the faint-hearted.