WTI Crude Oil & Copper Making Sense of Correlations
Interesting correlation between copper and WTI Crude oil illustrated on chart, as copper has been a good leading indicator or crude in most of cases(at least within the past few years).
A nice setup was seen August-September, when crude was breaking higher due to geopolitical risk(tension of war on Syria) while Copper was trading sideways and under pressure, that warned that any ease in tensions would signal a major drop in crude prices. At that point i suggested shorting crude in this setup tradingview.com/v/zNQj8tQE/
A nice setup was seen August-September, when crude was breaking higher due to geopolitical risk(tension of war on Syria) while Copper was trading sideways and under pressure, that warned that any ease in tensions would signal a major drop in crude prices. At that point i suggested shorting crude in this setup tradingview.com/v/zNQj8tQE/
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