"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Tuesday, May 1, 2012

Copper - Weekly view

The bounce off the trend line and 3.60 area lateral support was good as Doctor Copper got back above the previous support zone at 3.80.  But there is still that massive copper roof to be dealt with at 4. 

Markets play out on their own terms timing wise, so resolution could still be many weeks out.  Deflationists may soon start fantasizing about a massive Head & Shoulders forming, which would target an unthinkable 1 buck a pound.










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3 comments:

  1. Why is one buck copper "unthinkable"? I read that early early this morning and it's been playing on my mind ever since, so I'm asking you now.

    ReplyDelete
    Replies
    1. It's not really. This is life and these are inflated markets and anything's possible... and thinkable. I guess I was just playing around w/ words.

      How are you my man?

      Delete
  2. I'm fine. Thinking about unthinkable things.

    ReplyDelete