Copper is also called Dr. Copper. The base metal is reputed to have a Ph.D. in economics because of its ability to predict turning points in the global economy. Because of copper’s widespread applications in most sectors of the economy – from homes and factories, to electronics and power generation and transmission – demand for copper is often viewed as a reliable leading indicator of economic health. This demand is reflected in the market price of copper. Generally, rising copper prices suggest strong copper demand and hence a growing global economy, while declining copper prices may indicate sluggish demand and an imminent economic slowdown.
Coupled with the value line geometric index blowing off the 17-year triple top, we at PricenTime.com recommend our readers to take an investment position with FCX. FCX is a copper miner and we believe FCX is in a position to take advantage of the rising copper price with the rising economy.