Copper just marked the end of the “recovery.”
Copper, because of its close association with economic growth, is often called the commodity with a “PhD in Economics.” Large price moves in Copper usually mark large moves in the global economy.
Take note, Copper just broke down out of the massive wedge pattern formed after the 2008 Crash:
Based on Copper’s chart, the global economy peaked back in 2011 and has been moving sideways ever since.
Not anymore.
We’ve not taken out critical support for Copper. The gigantic five-year “recovery” pattern has been broken. And it broke downwards.
This will likely go down as THE signal that the great Central Bank fueled “recovery” post-2009 has ended.
Oil’s collapse was the first signal that the global inflation trade had blown up. Now Copper has confirmed it.
At the end of the day, you cannot solve a debt problem by making debt cheaper. You CAN temporarily prop up insolvent entities, whether they be countries or banks, by doing this… but it only lasts a short period.
And by the look of things, that period has ended.
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