Copper...

Copper...

I told you in a previous post that Copper had broken to the upside signaling inflation and a real estate boom was taking place. It still is. However at extremes it did not stop me from doing my research and entering a short to take advantage of the pullback. How far this pull back will be is anyone's guess but I am going to hold it for a while until most of the weak longs are shaken out. There was a reason for my short and that has not changed yet. It will but not at the moment. However not losing sight of the overall trend is important. It is clearly up. Strongly so. This has more to do with short term inflationary pressures than long term deflationary pressures. It may very well return to its starting point before reentering a buy. So be aware.
Here is my chart.