Ecantoni
Short

$HG_F ruled by a 10 year Schiff's Pitchfork ans a H&S

COMEX:HG1!   Copper Futures
784 5 2
Weird low volatility mkt
14 weeks to end of the 77 bars cycle
note how the 10 year Schiff's Pitchfork has worked nicely foretelling the top 2011 and relatives 2010-2012 highs
potential H&S tgt             would mean lowest blue parallel easily reachable in case of a 2008 bear market scenario ( lows in 5 months) here even rapidly if the 77 weeks cycle will be respected
macd and rsi neg div             confirming COT where commercials getting pretty bearish
note how rsi neg div             well foretold the 2008 copper             crash
Red median pretty close now. 77 bar cycle ends in 6 wks. China GDP coming in slightly weaker than expected confirms the scenario. Commodities under general deleveraging
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Dr. Copper has failed to complete te 77 bars cycle in time, but the bearish outlook remains strong. While the western central planning remains clueless, China is imploding under the pressure of the Shiborcrunch...pointing for a test of the green parallel at least.
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what is the current period RSI negatively diverging with. Shouldn't price be making new lows for that to be possible?
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that wasn't meant to read as trolling either, though it probably did :) Great chart, just missing the RSI logic
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Ecantoni MOD IQMSUpdate
well noticed man! :) heres the errata corrige clarifying
snapshot
price on LowerH...rsi on HigherH
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