Elena Nikulina

Copper market resists downside despite sell signals, Linda Raschke notes

Copper market resists downside despite sell signals, Linda Raschke notes
Copper market resists sell divergence signals

Linda Raschke, founder at LBR Asset Management, highlights the ongoing consolidation in copper markets and assesses a sell divergence on the Rate of Change (ROC) indicator. Despite this technical signal, Raschke observes that copper prices are not declining, referencing the Wyckoff Effort versus Result concept as an explanation for potential upside action. Raschke also notes that she disregards ROC divergences on inside days, emphasizing that this is a good example of how market effort does not always correlate with immediate results.

Raschke has previously identified a possible sell short day as a Rate of Change divergence appeared while large-cap stocks faced distribution, according to a prior note. In a separate outlook, she highlighted buy signals in Russian stocks, maintained a bullish position on gold, and projected that the downtrend in crude oil would continue, as detailed here. Her ongoing assessments continue to track technical signals across multiple asset classes.

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