Completing my collection (copper, gold) have now got short silver.
Long term I'm bullish but if we can get a lift in USD and see metal take a dip we could be looking at a near term high. In an ideal world we bounce up to fill gap at 13 and then roll over and drop back to $5 levels. Tough to believe it could take such a battering but those gaps are there to be filled. One to watch this week.
Long term bullish gold... however useful short opportunity as we approach 1306 high. Will be looking to load up long if we get a decent dip. Copper lead the sell off see "Copper Short" Short at 1287, SL 1310, TP1 1183
Taken quite a few steps back to see where this metal has come from in the hopes of seeing where we likely to be heading in the future. While in free fall we are sat on potential new TL currently. Break that and we look like we're heading to 1.50. Support around 1.40
I already took a profit on my last position. I am adding to my position here. Dear old China should take us to our target.
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 looks like dis-inflation (dare I say "deflation") is a real possibility. Global growth is often reflected in this industrial metal used in electronics to building construction. Multiple consolidation price patterns are forming and massive distribution has obviously taken place. This all happening while crude oil has fallen out of bed, global equities have...