05 July 2012

Copper : Fresh Short @ 349

  • PBOC surprise rate cut (+ECB cut). Yet Copper is not only NOT trading higher but is actually lower on the day. Price action has wrong feel.
  • Monthly and weekly charts have looked weak all along. Am presuming daily chart is making a reversal to lower now after recent run-up. So - tide wave ripple in sync.
  • Sold HGU2 @ 349. GTC stop above 356. Simple and clean.

No comments: