Mir­ror im­age

Cop­per and S&P 500 both set for fur­ther up­side

Finweek English Edition - - COMPANIES & MARKETS - COLIN ABRAMS colin@the­mar­ket.co.za Tech­ni­cal An­a­lyst

TWO VERY IM­POR­TANT charts that di­rectly im­pact the di­rec­tion of world stocks are shown. They’re the cop­per price (in US dol­lars) and the Stan­dard & Poor’s 500 in­dex in the United States. Be­cause cop­per is an in­dus­trial metal, it typ­i­cally mir­rors the world econ­omy closely, while the S&P 500 in­dex is the most im­por­tant stock in­dex world­wide. Their price charts cur­rently look sim­i­lar: both are point­ing to fur­ther up­side to come over the short term.

Please note: For more rec­om­men­da­tions and charts by the author on shares, stock in­dices and com­modi­ties please go to www.the­mar­ket.co.za.

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