The below is a daily chart. Signals happen BEFORE the bar opens and need a confirmation by breaking previous bar lows.
Selling any sharp rallies to continue long term downtrend. I really expect 2009 lows will break lower eventually, depending on chart patterns below lows will give clues of reversals. Life is good.
%% I look @front month volume contract, mostly a sell, but contracts further are going up/ no wonder, long term copper trend is nice/up. Even barchart.com noted can get a better price for cash copper. But i sell some number 1 + 2 copper cash to some local dealers. NOt much. I asked my favorite metals dealer if he thought copper was going up about 10%.He said yes + up + down LOL Great long term decades cash uptrend......MAY -18-2023 week
Lumber being at 503.50, foretells housing decline. Those who flip houses stuck at highs and real estate prices be going to 2018 eventually. I smell bankruptcy.
%% And real dumb idea ,tariffs on Canada lumber\those Canadian 2''x4s x8' helped keep US 2x4s[main house] lumber low priced. Sold some cash copper today. Amazing HI price for US cash copper coins 1776+/
Just think about it : Copper is the main metal of the electrification of transport and the stocks are really low right now...If I was a long term outright commodity investor, I would probably buy it.
And now the day range is even bigger at 3%. And yesterday was at 5%. It is the day trader's dream. gold futures day range - only 1.5%. Copper is the true / authentic / genuine red gold!