Below looks at a chart of Doc Copper over the past decade.
Doc Copper has created a series of lower highs inside of falling channel (1) since the highs back in 2011. The rally by Copper since 2016, now has it testing the top of its 6-year falling channel at (2).
If Doc Copper breaks out at (2), it would send a positive message for Copper and could well attract new buyers on the breakout.
The iPath Bloomberg Copper Subindex Total Return Sub-Index ETN (JJC) was trading at $36.00 per share on Monday morning, up $0.26 (+0.73%). Year-to-date, JJC has gained 25.13%, versus a 15.22% rise in the benchmark S&P 500 index during the same period.
This article is brought to you courtesy of Kimble Charting Solutions.