Today’s Chart of the Day was shared on Twitter by Matt (@commander10). It's a weekly candlestick chart of Copper futures. Matt points out three different bearish patterns that have developed on the chart. The first being a bearish head and shoulders pattern that has been forming since 2017. He adds that the right shoulder of this pattern has its own, smaller head and shoulders pattern within it. Lastly, he explains that a small bear flag has formed within the past few weeks, and notes that this is best viewed on a four-hour chart. All three of these classic chart patterns point to trouble ahead for Copper prices.
Chart of the Day - Thursday, August 22nd, 2019
August 22, 2019
