17 March 2011

Copper : False Signals = Uptrend Intact

  • Copper got flushed down the toilet along with everything else on Japan nuclear panic. Not logical. If we get out of this without worldwide deflation, demand will be there for reconstruction.
  • Monthly : Brief pop below 427 support, leaving spike low at 407. Good sign for bulls.
  • Weekly : Uptrend line broken and re-claimed. TL is now at 431 vs current price 433.
  • Daily : SHS top NL broken at 430. Now back above. Bear trap.
  • False sell signals will be confirmed if we manage to hold above 430 for a few more days. Then watch the bears scramble for cover.

1 comment:

Taichiseal said...

+HGK1 @ 430.4