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Why 'Doc' Copper Is Never Wrong

By: Rick Ackerman, Rick's Picks

 -- Published: Friday, 18 November 2016 | Print  | Disqus 

http://www.rickackerman.com/wp-content/uploads/2016/11/Coppers-vertical-rally.jpg

There is as yet insufficient evidence to speculate on whether copperís impressive post-election leap will turn into a belly flop, or instead prove to be the booster stage of a much bigger rally. Whichever is the case ó and I strongly doubt there will be any in-betweens ó itís inconceivable that this legendarily sensitive economic barometer will guess the outcome incorrectly. Inflation, or deflation? Growth or economic stagnation?  Keep your eyes focused on Ďdocí copper and you cannot miss an important turn ó assuming one comes, and however unexpected ó toward inflation following 35 years of the opposite.

From a technical standpoint, it is necessary to see that, so far at least, copperís steepest rally in a decade is still just a fledgling on the weekly chart. Yes, it has surmounted a daunting multitude of minor peaks. However, these are mere foothills in comparison to the two Ďexternalí peaks that Iíve labeled. The higher lies at 3.2790, and any rally from these levels that surpasses it without taking much of a breather along the way will be convincing evidence that the rip-roaring inflation of the 1970s is about to return in some shape or form. Anything less than that, however, can only suggest that an economic upswing of indeterminate strength is coming and perhaps no more. If you donít 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.

 


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 -- Published: Friday, 18 November 2016 | E-Mail  | Print  | Source: GoldSeek.com

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