Today in unusual inter-market relationships we have Copper/Gold vs the US10Y. I need to think about this more to grasp its claims upon reason, if indeed there are any!
On my theme on long metals also having a nibble long at X. Will wait on a move above 37.26 before adding on dips.
Even with gold futures breaking out GDX hints at another leg lower
... Reversal is looking particularly logical over multiple time-frames.
... Presumably this trend has encountered exhaustion, perhaps it is worthy looking for a short term entry with a stop above the high!?!
Goes against my bulled up metals view but will be looking to short above $61. May the meltdown china induced... writing in the tea leaves?
The bounce from the January trendline has accelerated sharply higher, with fresh demand at USD2.2000 pushing prices above critical resistance at the USD2.3235 high of March. Fibonacci resistance at the USD2.6805, (50%) retracement of the 2014-2016 fall has been reached, with potential for still further strength in the coming months towards congestion around...
Seems like it's still short situation on daily TF. SL above 2.6, target -- 2.3 or lower.
After the break above the 2014 high around 1.035 the chart lines up more with expectations. AUD Bullish copper (see "All that glitters") and AUDUSD CAD With NAFTA potentially changing up with Trump in power Won't look to enter unless we get sub 0.975... will be a while but i'm patient
There is no doubt copper's move is substantial as chart chasers crowd on a few group think narratives: Inflation is around the corner. Is it? Headline inflation in the United States in 1.47 percent. To put that in perspective, it's down four percent from July 2008 highs of 5.4 percent. To add further perspective to that, inflation is cyclical. It has risen,...
Bull recoil complete. Time for a tank sub 400? Long term model suggests a run up towards 700
Currently shooting back up into newly created bearish trend line. Looking to short around 2.20, SL 2.22, target 2.10
Long HG at 2.1125 for T1 2.146 & T2 2.1970 with SL of 2.1000 Took support at previous trend line
Copper has been awaiting some Fundamental Change since 2011 From January 2016 markets are awaiting final decision - that is why we see triangles on TYX, EURUSD, Nikkei and some other. Decision is NOT there yet!!! Markets will follow either natural cyclic pattern or create NEW VIBRATION after "Information Shock" (ref. The Law of Vibration: The Revelation of...
Copper may be setting up for a long. This level is in the middle of a range so, it is not the strongest however watch the price action to see if it holds.