Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

GoldSeek Radio: Ralph Acampora and CEO Niko Cacos, and Chris Waltzek
By: radio.GoldSeek.com

The Real Cost of Low-Fee Funds
By: John Mauldin

Equity Management Associates: Reversion to mean would send monetary metals soaring
By: Chris Powell

Brinkmanship
By: Trey Reik

The Coming Inflation Threat: The Worst Of Both Worlds
By: Charles Hugh Smith

SPX/Gold, 30yr Yields and Yield Curve - Amigos 1, 2 and 3 Updated
By: Gary Tanashian

Gold Seeker Weekly Wrap-Up: Gold and Silver Find Slight Gains on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 10 19 2018
By: Ira Epstein

COT Gold, Silver and US Dollar Index Report - October 19, 2018
By: GoldSeek.com

Gold Is Becoming Cool Again
By: John Rubino

 
Search

GoldSeek Web

 
Copper's Warning to Deflationists

By: Rick Ackerman, Rick's Picks

 -- Published: Tuesday, 15 November 2016 | Print  | Disqus 

http://www.rickackerman.com/wp-content/uploads/2016/11/Copper-futures-would-trip.jpg

‘Doc Copper’ is widely viewed as being able to predict upswings and slumps in the economy of manufacturing and real goods, so we should want to get this one in particular right. The post-election rally in Copper futures is on track for putting up one of the strongest months in the past decade. Buyers have retrenched somewhat in the last few days, but are they spent? This is unlikely in my estimation, since the rally has already generated a robust ‘impulse leg’ on the monthly chart, surpassing the two labeled peaks (see inset) we require. Under the rules of the Hidden Pivot Method, this specifically implies that any pullback short of the 2016 low, 1.9355, is merely corrective and should be viewed as a consolidation for a second, powerful leg up.

It would be more bullish still if, before November ends, the already impressive price bar for November extends above 2015’s high, 2.9610 (labeled #3 in the chart). It would require less than that, however, to trip a long-term buy signal. A print at the green line (2.7841) would do the trick, while also calling for a more bullish bias on trades in various time frames ranging from intraday to daily, weekly and monthly. A $5.33 target would be theoretically in play at that point, raising at least the possibility that the commodity sector as a whole is in for some very significant inflation.  This goes directly against forecasts that I’ve stood by for years, including a fall in long-term interest rates to under 1%. As such, I will continue to monitor copper’s charts very closely, since, at the end of the day, I will need to trust what they are saying more than I do my gut instincts. This doesn’t mean I’m about to recant my deflationist views any time soon, only that I am obliged by the technical evidence to keep an open mind. If you don’t subscribe, you can access the chat room and all of Rick's trading 'touts' instantly by clicking here for a no-risk, two-week trial subscription.


| Digg This Article
 -- Published: Tuesday, 15 November 2016 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2018



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.