Copper's overall trend, revealed by trends of price, leverage, and time, are defined and discussed in The Matrix for subscribers.
An economic contraction, if it comes, will be defined by EAC's LTCO below zero. Right now, we're witnessing an economic deceleration, or ITCO < 0 and LTCO > 0. Economic deceleration is confirmed by copper. Copper has been a series of double or triple downside alignments since October 2018. The current trend, a mid cycle downside alignment, is not an easy trade, because the weekly alignment is getting old. It's 30 weeks old and could use a reset. Smart money generally focuses on early cycle alignments such as palladium.
Please track copper in the Matrix, even if you don't trade it as it's a leading indicator for the domestic and global economy. A composite trend trading in and out of triple downside alignment is bearish. There is not other interpretation. =
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