Video Copper Could Outperform Precious Metals
Strong earnings have rekindled hopes of a stronger economy and helped copper test a key resistance level.
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![[Video] Copper Could Outperform Precious Metals](/-/media/Research/Global/News Analysis/Featured Image/2021/03/Charts5)
If earnings continue to outperform expectations then copper prices could well break out sooner than later. But the same cannot be said for platinum or palladium which have printed swing highs below resistance levels.
S&P 500: Market Internals
S&P 500: 4411.79 (1.01%), 23 July 2021
- Communication Services (2.65%) was the strongest sector and Energy (-0.43%) was the weakest
- 10 out of the 11 S&P 500 sectors closed higher
- 4 out of the 11 sectors outperformed the S&P 500
- 1 out of the 11 sectors traded lower on the S&P 500
- 412 (81.58%) stocks advanced and 91 (18.02%) declined
- 86.34% of stocks closed above their 200-day average
- 85.35% of stocks closed above their 50-day average
- 60.79% of stocks closed above their 20-day average
Outperformers:
- + 7.84% - Moderna Inc (MRNA.OQ)
- + 7.36% - Robert Half International Inc (RHI.N)
- + 5.30% - Facebook Inc (FB.OQ)
Underperformers:
- -5.29% - Intel Corp (INTC.OQ)
- -4.71% - Verisign Inc (VRSN.OQ)
- -3.62% - Organon & Co (OGN.N)
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