Stock chart patterns and technical analysis (TA) explained simply. Disclaimer: This blog and all its contents are for educational and entertainment purposes only. Do not trade or invest based on any information seen on this blog. Please read Terms of Service. The K E Stone blog sites (Keybot the Quant) are blacklisted by Google, so enjoy the ad-free experience, and only use the Donate button when supporting the sites.
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Thursday, June 21, 2012
COPPER Weekly Chart Sideways Symmetrical Triangle
Dr. Copper led the way lower this year rolling over in February. Note the long term sideways symmetrical triangle sending price out sideways. Price is now struggling at the lower rails. The indicators show sideways price behavior as well. Stochastics are weaker than expected that provides a tiny hint that weakness is preferred. Copper leasds the global economy and markets. If price breaks out above the top rail at 3.7 or higher the all-clear signals for the bulls. If price falls under 3.3, the bears win. Watch this chart closely as the weeks play out. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your finanical advisor before making any investment decision.
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