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Copper To Begin Long-Term Uptrend

|Includes: Global X Copper Miners ETF (COPX), CU

Copper has broken out of a triangle trap on the weekly chart. It's a buy near the upper descending trendline. Copper is normally a leading indicator for US equities, but US equities no longer reflect any real economy, but only QE liquidity injections. China is the manufacturing basis of the world, not the US, a service sector economy, which means copper demand should be reflective Chinese demand. This means that copper's upside breakout supports the prior Instablog post forecasting a multi-month uptrend in Chinese equities. Two ways to play this are with copper futures and copper mining stocks (CU, COPX).