MSM: Copper Sinks

NFTRH has been bearish on copper for years now due simply to one chart; a  long-term monthly view that is as ghastly as any I can recall.

I mean, sometimes markets are really complex, difficult to manage and screw ups abound.  But this right here?  This one simple chart has been idiot proof bearish since forever.

Copper sinks to 2009 levels as China worries weigh

The copper market fears that “the plunging stock market could destabilize the economy and impact resource demand,” said Colin Cieszynski, chief market strategist at CMC Markets.

“Copper is now at a big turning point technically,” he said.

If prices can “bounce back above $2.45 soon, it could be a bear trap washout and may signal a bottom,” Cieszynski said. But if they don’t, and $2.45 becomes new resistance, “look out below as a measured move from the $2.45 to $2.95 channel of the last few months suggests $1.95 could potentially be tested down the road.”

Colin, the copper market fears nothing; at least nothing that has gone on lately. The copper market made a top and has been bear flagging through a bear market since 2011. WTF are you talking about, 2.45??  Copper is and has been bearish. Stop whipsawing a world full of MSM reading substance abusers.