Fed Fears Inflation, Copper Fears Hawkish Fed

Copper futures have closely followed the trajectory of the zigzag that was outlined this summer in the post titled “Copper Fears Recession”. Below is a copy of that monthly chart to refresh your memory.

Copper Futures Monthly

Source: TradingView

The majority of readers bet that the price would remain above $3. Within the same month, the price reached a valley of $3.13 and subsequently recovered. This vote is still valid as the price hasn't crossed that handle yet.

In the next weekly chart update, we will examine the outlook further.  

Copper Futures Weekly

Source: TradingView

This is a closer look at the second red leg down shown on a bigger time frame in the summer. When the first leg up within a bounce in copper futures was unfolding, it looked promising at the beginning. Continue reading "Fed Fears Inflation, Copper Fears Hawkish Fed"