Copper - Did Social Media Tell You To Long The CCP Again?They call copper "Doctor Copper" because it's said to forecast the overall world economic conditions on account of being tightly wed to manufacturing.
Well, what people are really yammering about with that over the last 20 years is whether or not the Chinese Communist Party is healthy, and the world by proxy being healthy because it tied itself to the most heinous regime in history, the one responsible for the 24-year persecution of Falun Gong by former Chairman Jiang Zemin and the accompanying organ harvesting and genocide.
Unfortunately for all the blind bulls, the early 2021-2022 price action was a pretty good indication of a top, and that top is really confirmed by the fact that since October of '22, this bounce has been pretty weak, and starting this month, with all the drama surrounding the slow collapse of the Chinese economy, took out the previous two months' lows.
Monthly shows you that August price action took both the July and June lows.
Like, that's not the kind of "signal" you want to see to get long for a new all time high.
When something is retracing to take out major highs, you want to see lows rarely violated with something of a freight train towards the old highs.
Weekly bars show us something of a subtle pattern where it looks like it's just taken some lows and is consolidating and continually flirting with going back up.
But in reality the market makers are, most likely, just selling more under the previous $4.00 area.
And if that's really true, it means another gap down is imminent, especially after an entire quarter of ranging.
If you ask me, the first area that you can look for a long that is more than a scalp on copper is under $2.8, which is a critical pivot from September.
And a more likely target in the next 12 months is the $2.00 mark, which was barely swept out in the COVID drama.
The reality is, my friends, the Chinese Communist Party is going to fall overnight in our lifetimes. Not five or ten years from now. But very shortly, and everything is going to change.
Whether that is caused by Xi Jinping throwing away the CCP to protect himself and China from being taken over by the International Rules Based Order as it uses Taiwan as a soft proxy war, or because the whole world collapses under the results of the persecution of Falun Dafa, since everyone's been going to Shanghai to worship the toads and the Devil Red to get financial benefits.
This is the danger.
The danger is imminent.
But copper trades painfully slowly, so if you want to do this you have to have long duration, ignore the noise, and be willing to suffer some drawdown.
China under the CCP is never going to recover. Things are never going to be okay ever again.
Things will be okay once mankind returns to tradition.
But there won't be an international stock market like this anymore that day.
