Copper prices rise 4%
Dr Copper is making a nice move today. US copper is up 4.2% today to $4.15/pound. Perhaps more importantly, it appears to be breaking higher after cutting through a downtrend since February.
It will need to get above $4.20 to confirm the move and above $4.37 to touch a new high but this chart is encouraging.
The economic signal from it stands in contrast to oil, which is down 3.4% today. Or perhaps it argues that the move lower in oil is more about OPEC+ supply rather than economic or covid worries.
