Wednesday, 2 November 2016

Recap ahead of next weeks US election... anyone else think equities are looking toppy? DAX, ES charts.......also Copper (Z16)

And last but not least Comex Copper:Dec16.( below)
This is a simple one-fork study using high time frame pivots to create the most powerful of all PF's... the horizontal PF that shows the greatest correlation with price. For more info on organic horizontal lines please see the resources section.
We are at a critical point: Options are zoom thru RL to the green horizontal at 227.00 (equates to resistance at $4900 PMT) or as  i supect a coming period of volatility with a failed break out and  then touch back for re-test on downsloping RL. Any break with good candle pattern and new high from August should be buy opportunity. The issue is one of watching, waiting and patience. Look to the past to see the future probabilities and setups.
See same chart in August post "It's not over until the fat lasy signs":

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