20 March 2013

Copper : Bear Beginning

  • The short trade is starting to look attractive technically. (Of less importance to me - China weak).
  • Monthly : Broken out of triangle right shoulder of SHS top. En route to fufilling the triangle objective, we would have broken the SHS NL at 329 as well.
  • Weekly : The lower triangle line has at least 5 points of support ie is a strong one. After 3 weeks of dicking around, we now have a convincing downside break. Objective is 263.50.
  • Daily : Bear flagging now.
  • Trade : Latest round short at average in rate of 342.60.

1 comment:

Taichiseal said...

China HSBC PMI +51.7 > expected ... HGK3 up to 349.50 ..

Sigh .. the best laid plans ..