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Bearish Copper Suggests Canadian Stock Plunge Ahead!

  • Written by Syndicated Publisher No Comments Comments
    March 17, 2014

    In this week’s free video log we take a closer look at the correlation between the spot price of Copper and the Toronto Stock Exchange (TSX).

    Curiously, our trend analytics models currently have Copper indicated as commencing a new intermediate-term bearish downtrend in early March 2014, whilst Canadian Stocks have remained technically bullish according to those same trend analytics models since September 2013. An unusual anomaly based on history.

    However, as time progresses and as the divergence widens, this misalignment of these two highly correlated instruments will inevitably revert. This can only mean only one of two outcomes – either Copper spikes sharply higher or Canadian stocks plunge.

    To find out more on this unusual divergence, and our views on the likely outcome, please view our latest free weekly log.

    Please enjoy the video.

    [youtube]http://youtu.be/gL9Pf5rdOuU[/youtube]

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    Paul Thomason

    Editor, Elliott Wave Analytics

    Images: via Flickr (licence attribution)

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