February 20, 2012

COPPER Fibonacci levels

  • Copper support levels at 38.2% Fib level and 50 Day SMA.
  • Break below 3.6838 may give a fall towards 50% Fib level
  • Copper will face pressure at higher levels till it stays below 20 Day SMA.
  • SPY WEEKEND UPDATE

2 comments:

  1. HI San ..what r ur thoughts on that Megaphone TOP on SnP...the upper trendline is cleared by SNP futures today .

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  2. @jonak
    Topping patterns are not giving the expected correction.

    It looks like SnP cash will hit 1370 levels soon and we have to take it from there. 1370 is the last swing high in month or week chart. 78.6% Fib level for month chart is near 1380. so this level between 1370 - 1380 is the next hope for bears.

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