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One of the more noteworthy developments in recent days has been the move in copper prices. The metal sold off Monday amid concerns about health of the Chinese economy. The Global X Copper Miners ETF (COPX) fell 2.08 percent to 25.44 Monday, bringing its YTD gains down to just over 27 percent, still outperformed the S&P by a wide margin. Now the question is whether recent pullback is a pause that refreshes or it’s a beginning of something worse? Below is an update look at a trade in COPX.

The graphic below is from our “U.S. Market Trading Map”, show the near-term technical bias and trading ranges. As shown, the underlying is in a short-term bullish trend when the price bars are painted in green. The underlying is in a short-term bearish trend when the price bars are painted in red.

Chart 1.1 – Global X Copper Miners ETF (daily)

Our “U.S. Market Trading Map” painted COPX bar in red (sell) – see area ‘A’ in the chart. After a strong run of outperforming, the ETF peaked in mid-October and formed a bearish pattern of lower lows and lower highs. The mid-November rally tested the 2-conjoining resistance near 25.70. Monday’s massive bearish engulfing bar is a clear indication…Click here to read more.

You see, our trend-following system is very unique as it attempts to pick turns before others see them. Timing is everything and if you’ve applied our system correctly, you should have made a killing in any markets.

 

This is just an example of many successful trades that our member had enjoyed recently. After all, aren’t you glad you subscribed?

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