Using clones to predict timing of the next peak in AA with this this chart. In the green and orange shaded boxes I am looking for the mid point of the cycle. In the next set of blue and red boxes ,now that I have the mid point identified, I am using half cycle clones to predict the next peak. Finally, the last red and blue set of boxes I am attempting to predict...
Rio Tinto is one of the biggest extracting companies, of aluminium, so it has a direct correlation with its price. We can observe higher highs and lows. (On the aluminium price a double bottom formation is almost finalized, a break might bring further appreciation)
Alcoa and Aluminum Corporation of China Limited, have also a direct correlation with the aluminium...
This picture is worth a thousand words. It basically shows me that Alcoa's chart has been the rough equivalent to China's stock market, but with the added price volatility it is a leveraged play on FXI.
This is simply "interesting" and thought you all would enjoy seeing this chart.
By: Technical Tim, Monday, April 2, 2012 4:22PM EST
