Copper
Some Industrials are acting soft here. For Copper, a decisive decline below 264 would complete an H&S failure pattern with a target of 235. I believe that the decline on Friday was a Wyckoff Sign of Weakness day – and Friday’s high should not be penetrated. I am willing to short Copper if the market provides a measured-risk opportunity.
Silver
I spoke at some length about the Silver chart during this past week’s Member Webinar. The decline on Friday completed a H&S failure pattern with a likely objective of 1360. Factor is short Silver.
