Copper is known as a base material for construction and manufacturing, it
is also known that China imports 35% of all its copper. If true risk on was
built on solid foundations copper prices would reflect this, lets see what
you think.
Copper is sensitive to PMI (Purchasing Manufacturing Index) data, the HSBC
China PMI has post 5 consecutive drops. Makes you wonder who is doing all
the buying.
Copper Cycles: Approaching a peak
And we see a rising wedge in early formation..this is bearish, a break of
the blue 1x1 Gann Angle will very bearish.
Letting the bullishness work it self out, may see prices pop to $52 on the
Copper ETF (JJC), and thats were bears should look for a short entry.
We are financial market enthusiasts using methods expressed by the Gann, Hurst
and Wyckoff with a few of our own proprietary tools. Readtheticker.com provides
online stock and index charts with commentary. We are not brokers, bankers,
financial planners, hedge fund traders or investment advisors, we are private
investors.
LEGAL DISCLAIMER: The material is presented for educational purposes
only and may contain errors or omissions and are subject to change without
notice. Readtheticker.com (or 'RTT') members and or associates are NOT responsible
for any actions you may take on any comments, advice,annotations or advertisement
presented in this content. This material is not presented to be a recommendation
to buy or sell any financial instrument (including but not limited to stocks,
forex, options, bonds or futures, on any exchange in the world) or as 'investment
advice'. Readtheticker.com members may have a position in any company or security
mentioned herein.
Circle Us