Copper in my opinion has been replaced by technology, specifically semiconductors.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 (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? $HG_F is also catching bids today off that important 3.08
Copper on a daily chart. Not much say. Price hit resistance multiple times and is now taking a dive. Not many support levels on the way down. I would look for a bounce a the grey arrow and observe price actions a these levels.
Performance table from May 2013 - Oil, Palladium, Wall Street, Platinum, Copper, Gold, Silver in that order. Should be self-explanatory. I would be interested in any educated conclusions.
Palladium overtakes Gold. Platinum gets the bronze medal and Copper is 4th
June 23, 2014 Gold has a change in behavior and on the frequency of its new Up Sloping Fork. Price now has to navigate the 1320.00 check point. Potential support 1312.00. Moderate advance target at 1400 area -August 6-12. Keep eye on U$D. Not a recommendation to buy or sell this commodity.......
Friends, This past March 11th 2014, I offered two distinct forecast targets, namely: 1 - TG-1 = 35.20 - 11 MAR 2014 and 2 - TG-2 = 38.60 - 11 MAR 2014. This trade was particularly tricky, as it called for one bearish target and a bullish counter-trend. However, it turned out that it hit both targets with some respectable accuracy - See original chart posted...
Friends, Predictive/forecasting model is bearish on $Gold, having defined significant R/S levels as follows: 1 - Strongest resistance within the 80.94/81.63 range 2 - Moderate support with reversal potential at 74.50 3 - Strong support with break-thru risk at 74.04 Also, model defines the following conditional targets, provided breach of 74.04: 1 - TG-1 =...
Golden Cross coming, First time in Ages the company are expected to have positive earnings all with the copper prices dropping over the longer term, but up recently.