Copper is not pointing to doom and gloom

The price of copper has tended to indicate the strength of the economy, with all the doom and gloom in the news of late one would expect that the price of copper would be significanlty lower. That is not the case, while copper has been in a trading range for 2011, it has not broken down but rather appears to have consolidated. When consolidation phases are resolved the tendancy is to resume the previous trend, which was up. The short term moving average is still well above the longer term, a bullish sign (the cross taking place in 2010). Perhaps signs are pointing to a stronger market in the fall than most reports are indicating.