November 5, 2012

COPPER Triangle pattern

  • Copper weekly chart shows price moving towards the support line of the triangle.
  • Daily chart shows price testing Golden ratio. Sustaining below Golden ratio should extend the down move towards 78.6% Fib level.
  • Daily chart also shows a possible bearish cross with 20 and 200 SMA which will also extend the correction.
  • For a bigger up move to happen the Triangle support line has to be held.

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