Last February 01st, our predictive analysis and forecasting offered a potential price action, seeing first TG-1 = 3.158 as a potential support, then 3.288 as resistance, and finally, eyeing 2.999 as an abysmal low-target, defined as "TG-Low = 2.999 - 01 FEB 2014.
What ensued was nothing shorter than a perfect adherence to the anticipated price action - Following are the three prior analysis starting from the original predictive analysis and forecasting:
At this point, expect a relief rally in price at a potential 50% resistance to 3.209.
OVERALL:
Predictive analysis and forecasting generated on 01 FEB 2014 was followed remarkably close by ensuing price action, hitting target TG-Low = 2.999 - 01 FEB 2014 dead-on. A relief rally is anticipated up to 0.50-Fib level. System's directional signal remains bearish, but trader's directional bias turned "Neutral" based on recent and anticipated technical events just described.
PS: If you liked the analysis, feel free to give it a "Thumb Up" and pass of a friendly referral to friends interested in occult market mathematics and hidden geometries. All targets generated are defined by non-price means, and confirmed by either proprietary patterns (Euclid, Janus, Great White, Deep Shark), or other well known patterns. However, we concentrate mainly on Shark, 5-0 and occasional Bats, to complement our predictive analysis and forecasting - Cheers, David Alcindor.
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Disclaimer: Forecasts, analyses and directional opinions generated herein are for educational purposes only and are not trading recommendations. We trust that you will do your own due diligence first, then seek professional advice from a licensed professional, then enter the market at your own perils - David Alcindor - TradingView.com Alias: 4xForecaster
Comments
FaultyKid
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You got this one pretty accurately, now there is whole copper crisis all over the news lol.
alex.a
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This will hit AUD down further??? ^_^
4xForecaster
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@alex.a - As a class (commodities), a fall in one metal (especially as essential to construction sector as copper is) can herald the depreciation of other related commodities.
If AUD is positively correlated to precious metals, so it can be affected by a fall in metal commodity prices, especially since it is heavily intertwined with commodity demand from importing economies, such as China.