Monthly chart is key. Interpretation self explanatory. If price action unfolds as technical pattern indicates (=meltdown), be prepared for lots of trouble ahead (eg China woes, economic slowdown, events leading to flight to quality (USD/USTs), etc). Technical downside objective is 125/115, massive potential move. Presently the calm before the storm.
10 February 2015
Copper : Updated Charts
Monthly chart is key. Interpretation self explanatory. If price action unfolds as technical pattern indicates (=meltdown), be prepared for lots of trouble ahead (eg China woes, economic slowdown, events leading to flight to quality (USD/USTs), etc). Technical downside objective is 125/115, massive potential move. Presently the calm before the storm.
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1 comment:
Very clear technical signal here in copper. Great spot to go short with a stop above 290, with a target of around 116. Unfortunately I don't trade copper, but the chart is quite clear and compelling. :)
All the best,
Pandu
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