Failed Breakout Disconcerting for Commodity Bulls
In early January I got very bullish copper as price was breaking out of a multi-year symmetrical triangle. The trade worked well initially, but price subsequently reversed and fell precipitously. In this video, I take a look at this price action, explain how I build a chart, and what the copper price means for the commodities sector.
As always, I hope this is helpful, and I welcome any feedback or questions.
Tarek Saab
I am the founder of fibonacci.com and an avid trader. I am also the co-founder of Texas Precious Metals, a top US precious metals company. In 2006 I was a contestant on The Apprentice with future president, Donald Trump. I live in Texas with my wife and five children, where I spend my time dodging snakes, changing diapers, and charting.
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