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One of the more noteworthy developments in recent days has been the move in copper.  After a strong 2017 that saw the Global X Copper Miners ETF (COPX) soared more than 36 percent, outperformed the S&P by a wide margin, the ETF has been under selling pressure in recent days as traders focused on expectations for higher U.S. interest rates.  Now the question is whether recent weakness 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 (weekly)

Our “U.S. Market Trading Map” painted COPX bars in green (buy) – see area ‘A’ in the chart.  Over the past few weeks, COPX has been trending lower in a short-term corrective mode after the December rally ran out of steam just below the 30 zone.  The late January correction tested support at the 20-week moving average.  This level was tested several times since the ETF reached an interim low in early 2016…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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