- Caterpillar breaking support levels. 86.25 was a crucial support level which is broken.
- Price is approaching an important weekly trend line which may act as support.
- Price has broken below Golden ratio and is moving towards 78.6%. If the up trend line or 78.6% does not hold price may fall towards 67 levels.
June 4, 2012
- Hour of gold in a bull flag pattern. For this to breakout in favor of bulls price must sustain above 50 Day SMA.
- Price also testing previous support zone. For bulls price must sustain above this zone and the falling resistance line shown in second chart for a bigger up move to happen
- CHANNEL OF CRUDE OIL
- Crude oil four hour chart continue to fall in a descending channel.
- Price is hitting the support line which may result in a small bounce. A complete reversal may not happen.
- Cloud of four hour is a major resistance zone.
- Hour chart may turn positive above 50 Hour SMA.
- COPPER WEEKLY SUPPORT LEVEL
- Copper hour chart is at crucial weekly support band.
- Break below 3.19 levels may result in bigger falls for copper.
- Hour chart is trying to turnaround and need to trade above the trend line and cloud for a bigger up move to happen. Failure to trade above these levels may result in breaking this crucial support levels.
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