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There are curious patterns in both Copper and Oil that need to be watched closely.

First, it’s important to note that the Venture is giving us clues that the primary trend in each is up.  Neither commodity is in a rip-roaring bull phase at the moment, but their individual charts nonetheless show promise and seem to confirm what the Venture is saying.

The Venture has proven to be a reliable leading indicator, so the fact the Index continues to outperform the broader equity markets (up nearly 2% in September vs. slight declines in the Dow, S&P 500 and the TSX) is reassuring in the sense that this likely wouldn’t be happening if Copper and Oil were about to fall off the cliff.

Fundamental sentiment with regard to Oil is mixed, and we’ve covered that debate extensively recently.  We’re in the bullish camp and we believe it’s an ideal time to be accumulating shares in high quality and debt-free Oil and Gas companies for investors searching for superior returns over the next 12 months.

Let’s explore Copper first.

(Editor’s note:  Jon is on special assignment – yesterday and today – and Morning Musings returns tomorrow). 

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