Copper U.S. High Grade Futures (339.10)

Copper Futures have been moving sideways, straddling the 100-Day Moving Average for three months. In the next week or so, the trading pattern will be forced to take sides on the uptrending 200-Day Moving Average as the 100 and 200-Day converge.

The intermediate term trading pattern is now showing evidence of weakness in a way that has not been apparent for a number of years.

Short and intermediate term trading patterns are at a critical moment in terms of Moving Averages and trend resistance. The situation is sufficiently precarious to force me to the sidelines, out of copper, until the air clears.