RE: Watchlist - Traders method
(2013-04-22, 11:29 PM)goodtyneguy Wrote: Keep an eye on Dr copper, I've posted up the weekly chart to remind peeps (isatrader has posted it before but not on the watch list) of the huge H&S pattern and also to show the target for the measured move. Arguably it's in a stage 4A and you will see the measured move coincides closely with the December 2008 low. I think it would be healthy to see a bit of consolidation around here or a bounce to provide a swing high for a place to put a stop loss order, or better still a pull back to the 4A break down level.
Lets see if "the bigger the top the bigger the drop" applies to commodity futures.
Physical stock levels at the LME are actually higher today than at the 2008 lows, so not a good fundamental sign for copper either. As large stockpiles of copper don't lead themselves to higher prices anytime soon. See the historical charts on Kitco: http://www.kitcometals.com/charts/copper...ks_6months
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.