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Re: Copper in trouble/James
In Response To: Copper in trouble *PIC* ()

Yes it topped out in Feb then broke 4.50 support. And Dr.Copper tends to be the leader in the markets. Not a good sign. An even earlier sign was the top Copper stock FCX breaking down and having lower lows and lower highs since January. It tends to be the canary in the coal mine for Copper. BUTTTT all may not be lost! Copper has just reached price support at 4.20 which is the Jan/Feb lows support. And below that is the uptrendline from June plus price support at 4.08. Historically March has been a bullish month for this type of market. And next week into St.Patrick's day and option expiration week has been especially bullish. The latter part of March has a history of major sell offs. So keep your powder dry and don't shoot til you see the whites of their eyes..........

Messages In This Thread

Re: Copper in trouble/James