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Monday, November 29, 2021

It’s Not Just Copper | Investing.com

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While went through its correction we have been noting each week that the Industrial Metals index, GYX ,had never aborted its bullish stance. Trends remained up and the index price held the SMA 50’s intermediate trend all the while copper (CPER, which I hold, in lower panel) worked through its summer correction.

The Industrial Metals are a primary indicator of cyclical inflation and by extension, economic reflation.

GYX Daily Chart.

The implications on the macro level were and still are many, including that it is not yet time to be a bull, at least not yet time to focus on it as anything special in the price casino. That time will come, but not in any time convenient to those cheering for the monetary metal. Value knows not about time. Value cares not about time.

Here is the same chart as adjusted by gold. Bullish, risk ‘on’ and cyclical still.

GYX:Gold Daily.

Disclaimer: We do not recommend you invest or trade based upon our commentary, analysis and opinion. Please see NFTRH.com and Biiwii.com terms of service.

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