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Saturday, February 12, 2011

Copper Daily Overbot Negative Divergence

Copper daily chart coming off its top now, negative divergence spanked it down. Interesting to also review the negative divergence behavior with the November top. The hitogram in November wanted to see another new higher high in the future and it got this in early December and now has joined the negative divergence party. Give me a trumpet and I'll play 'Taps'. Dr. Copper is driving to the emergency room righ now. Watch the price behavior at the 20 MA at 444 for indications of bounce or failure. Note the importance of this price versus 20 MA Kabuki dance shown by the green rectangles. Another key number is 433 right now, to start the week of 2/14/11, if 433 is lost the broad markets are in serious trouble. This information is for educational and entertainment purposes only--do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.

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