Using Simple Charts to Identify and Profit from Long Term Trends.
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10 September 2009
Copper : Watch 275
Copper is the metal that is supposed to have a PhD in Economics.
Price action on daily chart a bit shaky of late. Watch 275 support level on the bottom. A break = indication of reducing Risk Appetite, confirming the messages of ED spreads and USTs (but not yet in FX and Equities).
Weekly and monthly appears toppy to me.
Certainly am doing it the difficult way, positioning early for Risk Off. Still, one of these days, it's going to pay off large.
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