The activity of the options market confirms the trading range within the borders shown on the graph. Not surprized.
Based on our team's research of the options market, we expect buy activity at the support level or sell activity at the resistance.
We primarily consider levels to be activity zones, but not to be a super-fine level for establishing a limit order....
I like trades like this.. the setup makes it hard for a crappy entry or direction.
Purple wave - 50sma
Gold wave -200sma
Long over 41.50
Target 44.00
Short below
39.50
Target
200sma
Hate to be a bear but it's looking like a H&S play
Next Support and Resistance Area for $FCX
Identified on the chart the next possible Support and Resistance, where the price will exit this trading range.
$35 strike May 19 expiration puts are going for $1.03 right now and I’m thinking of grabbing 10 at $1.00 a piece for a total cost of $1000.
Reasons to go short:
FCX at upper bound of downtrend channel
FCX at horizontal resistance from May 2021
FCX Time cycle suggests top forming within 2 weeks (this trade might be early)
Weekly copper chart at 2008 crash level,...
Whenever yoy here these so called advisor , Start to publicly recommend a sector to invest in , that means it's time to short. They (Institutions ) usually take a position 30% cheaper before they even mention it and by the time they do speak on it they are unloading why you (Retailers) buy the ASK.
That yellow trendline u see is a downtrend starting from...
Eyes on this miner for a breakout of a bull flag. 10MA is turned up to form a a bullish cross above 20, PA is above the 200 MA with the 50 crossing it as well.
