Potential Support/Reversal @ 2.938 | #Copper $SCCO $Gold $SLV
Friends
Yesterday we hit our target dead-on (See chart here:
and prior analysis here: www.tradingview.com/v/PETtLSZk/).
Not posted was an older target defined an abandoned, originating from November 26th, 2013, calling for a significant support at 2.944/2.938 range.
We would like to reactivate this target as of this hour, as price is nearing it (currently, price posts 2.955 without having touched that target yet).
This has the potential to create a relief rally and push price back up to 3.180. Both of these are high-risk (i.e.: low probability) based on a Shark completion and 5-0 ensuing pattern development.
OVERALL:
Cautiously looking for a reversal SIGN (i.e.: early reversal signal), then requiring a reversal SIGNAL confirmation, both of which are missing at this point. While predictive analysis remains NEUTRAL, pattern analysis calls a reversal at the levels defined above.
Note - Here are the prior analysis for your review:
1 - Copper: Original predictive analysis and forecast:
-
2 - Copper: Price reverses above 3.158 floor:
-
3 - Copper: Upper resistance hit dead-on:
-
Cheers,
David Alcindor
TradingView.com Moderator, Alias: 4xForecaster
Predictive Analysis & Market Forecasting
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.
-----------------------------------------------------
Get signals, analyses and forecasts on Twitter
Alias: @4xForecaster
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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
Yesterday we hit our target dead-on (See chart here:
Not posted was an older target defined an abandoned, originating from November 26th, 2013, calling for a significant support at 2.944/2.938 range.
We would like to reactivate this target as of this hour, as price is nearing it (currently, price posts 2.955 without having touched that target yet).
This has the potential to create a relief rally and push price back up to 3.180. Both of these are high-risk (i.e.: low probability) based on a Shark completion and 5-0 ensuing pattern development.
OVERALL:
Cautiously looking for a reversal SIGN (i.e.: early reversal signal), then requiring a reversal SIGNAL confirmation, both of which are missing at this point. While predictive analysis remains NEUTRAL, pattern analysis calls a reversal at the levels defined above.
Note - Here are the prior analysis for your review:
1 - Copper: Original predictive analysis and forecast:
-
2 - Copper: Price reverses above 3.158 floor:
-
3 - Copper: Upper resistance hit dead-on:
-
Cheers,
David Alcindor
TradingView.com Moderator, Alias: 4xForecaster
Predictive Analysis & Market Forecasting
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.
-----------------------------------------------------
Get signals, analyses and forecasts on Twitter
Alias: @4xForecaster
-----------------------------------------------------
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