For a technician, today’s flag pattern is an absolute gem. The hardest part for an investor is having the patience to sit through a flag as it develops. But that patience is rewarded when the flag finally breaks out in a continuation of the prior trend. Today, the launch out of the flag pattern is pretty sweet. The most amazing part is that a breakout of this significance is hiding in a commodity. Who knew a copper chart could flag this nicely.
So what does a breakout of a flag imply if you are not a technician? A continuation of the uptrend, but we have to wait for the breakout. That happened this week.
So the copper names are flying.
Southern Copper is also on the move.
Lots of nice mining charts are in play. You may find some trades you like in the metals and mining industries.