Cop­per could tell us what emerg­ing mar­ket stocks are about to do- con­tin­ued

Zambian Business Times - - COMMODITIES -

Based on the weight-of-the-ev­i­dence, this level around 3 is the one we're watch­ing. If Cop­per is un­able to hold this level, it would likely mean that Emerg­ing Mar­ket stocks have com­pleted this 2-year rally and it is now time to un­der­per­form again.

I'm not con­vinced that this is a bear­ish pic­ture, yet. I think the re­cent rel­a­tive strength in Emerg­ing Mar­ket stocks is sug­gest­ing that both of these are head­ing higher: Cop­per and EM stocks. If Cop­per is be­low 3, it def­i­nitely in­val­i­dates any bullish the­sis for ei­ther of these, so I think it's im­por­tant to watch this level as we en­ter the Sec­ond Quar­ter.

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