Bitcoin on a downtrend since late 2013. Copper on a similar downtrend and this chart shows and overlay of BTCUSD and Copper/USD values. Look closely and you can see the Copper trend is very similar to the Bitcoin trend.
Gold on the other hand is breaking out of the 2 year downtrend and I'm guessing this is a sign of the times for Bitcoin. Bitcoin should start...
The COPPER market shows the bottom has fallen out after a 2.5 year consistent downtrend. Some say this is the sign of a weak economy and potential economic recession. Beware.. I'd stay clear of this market for the next 30 days or so until some direction comes into focus.
As the dollar strengthens internationally copper demand and cost factors boost the price down, Chilean peso continues to depreciate against the dollar. (Ceteris paribus: no surprises regarding movements of the rates by the Central Bank)
Copper in my opinion has been replaced by technology, specifically semiconductors. The market seems to be much more focused on the happenings of Silicon Valley rather than Milwaukee or Detroit. While the industrial sector still remains a large piece of our economy it no longer is the driver of growth. At least that’s what price action has been telling us.
The...
As many will be well aware copper has confirmed a break of the descending triangle. A clear channel has also been playing out with the bottom of the channel still some 8% away.
Copper has been in a huge downtrend, and this week -- a holiday week in the US marked by lower trading volume -- saw an even bigger move down. The daily chart here illustrates. The big move down on this past Friday is vital, as it set the market decidedly below support at 2.90.
So where is the next support level? If we zoom out to the monthly chart, we see a...
Copper is trapped in a descending triangle. The lower level is psychological 3 dollars, and the upper is a line of lower highs started in 2011. Will it break up or down? In my opinion it will crash like a shooting star.
Copper (11.9.2014) traded as per our last report & after finishing the levels , fall back very quickly.
Now copper is trading around $3.0693 & as we can see on charts, its reaching to the lower tradeline current descending channel. However the momentum is very strong & it may break the channel , still few more indicators providing best opportunity for a shot...
Copper (19.8.14) traded lower as per expectation & reach to the support zone.
Now copper is trading around 6913 of lme & as we can see on charts, copper provided a false breakout below the lower tradeline of the ascending channel.However it was able to bounce in over night electrinic trading. The bouncing area was well supported by the 61.8% feb correction of the...
FCX bouncing off some great levels and getting support t the right spots.
I am no elliotician by any means by could we see a wave 5 here?
$HG_F is also catching bids today off that important 3.08
The sector has been so beat up and cost have been cut across the board. It looks like the metals are picking up some bids and $GC_F is not willing to settle below $1300 anymore and producers not being economical under $1200. A lot of the names in the $GDX and $GDXJ also has $SI_F $SLV and $HG_F credits as well as other base metals that have been doing very well -...
Copper on a daily chart. Not much say. Price hit resistance multiple times and is now taking a dive. Not many support levels on the way down. I would look for a bounce a the grey arrow and observe price actions a these levels.
