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Copper: Expect New Highs In The Year Ahead

Published 07/03/2017, 12:23 AM
Updated 07/09/2023, 06:31 AM

Copper confirmed a new Intermediate Cycle this week with a breach and close above my Red Yearly Cycle Down trend line (see first two charts). Given that this last Yearly Cycle was extremely Right Translated, cycle methodology would indicate we should expect Copper to make new highs in the year ahead of us.

My next two charts are on Copper Producers Freeport-McMoran (NYSE:FCX) and Southern Copper (NYSE:SCCO).

Copper Daily

Copper Weekly 2015-2017

FCX Weekly 2015-2017

SCCO Daily

My next three charts are of three base metal miners, Rio Tinto (NYSE:RIO), BHP Billiton (NYSE:BHP) and Nevsun Resources (NYSE:NSU).

RIO Daily Chart

BHP Daily Chart

NSU Daily Chart

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