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It's Not Just Copper

By Gary TanashianCommoditiesOct 15, 2021 11:24AM ET
www.investing.com/analysis/its-not-just-copper-200605224
It's Not Just Copper
By Gary Tanashian   |  Oct 15, 2021 11:24AM ET
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While copper went through its correction we have been noting each week that the Industrial Metals index, GYX ,had never aborted its bullish stance. Trends remained up and the index price held the SMA 50’s intermediate trend all the while copper (CPER, which I hold, in lower panel) worked through its summer correction.

The Industrial Metals are a primary indicator of cyclical inflation and by extension, economic reflation.

GYX Daily Chart.
GYX Daily Chart.

The implications on the macro level were and still are many, including that it is not yet time to be a gold bull, at least not yet time to focus on it as anything special in the price casino. That time will come, but not in any time convenient to those cheering for the monetary metal. Value knows not about time. Value cares not about time.

Here is the same chart as adjusted by gold. Bullish, risk ‘on’ and cyclical still.

GYX:Gold Daily.
GYX:Gold Daily.

It's Not Just Copper
 

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It's Not Just Copper

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Comments (2)
Abdelraziq Abuaisha
Abdelraziq Abuaisha Oct 16, 2021 1:25AM ET
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I don’t think it’s going to take too much time:)
Catholic Man
CatholicMan Oct 15, 2021 6:45PM ET
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biden will be remembered as.the new jimmy carter
Alfred Aita
Alfred Aita Oct 15, 2021 6:45PM ET
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Your a fake
 
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