Copper leading the commodities rally

Base metals, and copper in particular, are leading the commodities rally. Both breaking out to new 52 week highs, and above trend. The “inflation” Bulls are doing a cubicle dance. Copper is outperforming gold on a relative strength basis.

The two stock charts below show the breakouts: The Base metals (DBB) ETF, and, The Copper (CPER) ETF.

Base Metals ETF (DBB)
Copper ETF (CPER)

And a relative strength chart, copper (CPER) is trading 7.7% above gold (GLD), over a 200 day average, in the lower panel.

Copper (CPER) relative to Gold (GLD)

Published by Trendanomics

Trend trading analysis of the markets with simple trend trading strategies.

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