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July 6, 2009 / Jeb

Copper Best Indicator for the World Economy

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The Copper ETF which is the greatest indicator of the world economy is creating a symmetrical triangle formation.  A break above the triangle on good volume will lead to higher commodity prices.  This will also be good news for Taseko.  Also notice how it closed at the high after opening lower.  The exact opposite of the dollar.

JJC has strong support at $30 which was its previous resistance.  This is a great chart to watch to get a real feel of the global economy.

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