Joe Friday: 'Doc Copper Rally Would Surprise Most Investors'

May 3rd, 2013

by Chris Kimble

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I shared the chart below with Premium Members on April 24th and early sign ups for our new Metals Research report last week, reflecting that Doc Copper was on support and that bullish sentiment towards Copper had collapsed to levels last seen at the 2009 financial crisis lows! A bullish set up/entry point was at hand.

The next chart is an update on Copper's action. The buy suggestion took place at (1) and over the past seven business days, the potential that a double bottom is forming at (2) is increasing! Given the bullish falling wedge at support with few investors bullish, Doc Copper could help push this out-of-favor metal higher.

Joe Friday: "If Copper does rally (check the chart), it will surprise the majority of investors."

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