Hmm, It's tough to say where it will go from here. Any predictions?
If anybody likes reading charts (I do it mostly for entertainment...like reading fortunes, I don't put much faith into it), the chart shows that the copper price is at an important juncture. If the copper price continues to follow a trend called an ascending triangle that goes back about 2 years, it will fall in the next 5 months or so to maybe $3.25 a pound. On the other hand, if the copper price goes a bit higher to say maybe $4.25, it will be safe to say that copper has broken out of the ascending triangle and is likely heading up into uncharted territory.
Hint: look at the 5 year Kitco copper chart starting around March 06 and compare the pattern to the example ascending triangle in the investopedia link.
Don't forget to adjust copper prices for inflation.
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Copper at $4.01 / pound
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Posted - 04/16/2008 : 15:51:10
$0.0264815
Posted - 04/17/2008 : 08:15:12
