Copper = metal most sensitive to economic trends (eg closely linked to China growth). Here, we see potential signal that outlook about to turn negative.- Monthly : Solid unbroken uptrend since Jan09, pre-dating the Mar09 bottom in stocks even. Jan10 candlestick looks like it is about to form a shooting star (ie top).
- Weekly : Watching for break of UpTL at 324 (vs last 329).
- Patiently awaiting confirmation of sell signal for action here.
- Tradeplan : Initial short will be based on weekly UpTL break. Then await 3 candle confirmation from monthly (eg 3 candle evening star) for the bigger trade.
- Useful cross check against other risk indicators eg AUD/JPY, equities, etc.
27 January 2010
Copper : PhD in Economics
Subscribe to:
Post Comments (Atom)
1 comment:
Hi TS,
Thanks for that. Its not just copper that printed those sort of toppish candles. I saw some of Singapore stocks are doing that too. Commodity stock Indoagri for instance. It's as if the peak of buying which ended in a whimper happens at the same time. And the selling just happens before the end of the month, before the candle close.
Thanks again.
Post a Comment