Friday, 6 May 2011

T- Bonds & Comex HG Copper

T-Bonds: Nearly a week since this pattern caused some interest. Simple objective of the black D-S ML in the top RHS of the 240min chart but i will watch to see how price 'copes' with the green CL. ie zoom through, piercing or touch n run. Nice ADX







After a touch on the blue UMLP and then being caught between the 'sheets' of the other UMLP's from long term forks (see here). Now we see stochs oversold and possible support on the LMLP of the DS fork drawn from the previous high pivot 465. area. The lower MLP is about a .382 Fib RT from the blue UMLP recent high. .The mauve pink horizontal fork has the first 100% reaction line bang under current price. The 50% RL from the same fork also shows its correlation well.






Detail of 240 min HG Copper chart below:

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