Copper  futures, which have a canny way of anticipating the economy’s ups and downs, are closing on a crucial resistance (see inset).  The red line, a Hidden Pivot midpoint that should be regarded as a short-sale opportunity, comes in at 3.3838.  However, shorting there would be somewhat riskier than usual, since a print at that level would exceed some prior peaks on the weekly chart, signaling a possible breakout. My hunch is that the red line will be surpassed this week but that the follow-through will be relatively feeble. Whatever the case, price action over the next week or so could have significant implications not only for the economy but for bullion, since no surge in copper prices is likely to occur without a corresponding move in gold and silver. _______ UPDATE (December 17 at 9:54 p.m. EST): Interpolating for the continuous March contract, the red-line pivot comes in at 3.3829, 0.0044 above yesterday’s high. _______ UPDATE (January 6): The futures have fallen sharply after double-topping near 3.42. A short was signaled from 3.4160, but it’s likely that few bears would have been feeling up to the trade by then.