Comex Copper March 2018

The first signs of long overdue downside correction?

Comex copper

Comex Copper Plus Gold spikes after NFP number

Emini Dow and S&P and equities: Is this the turning point? Will we see continued weakness and a meaningful retracement for equities

Here is the emini Dow..... Ouch!

EURUSD historical charts back to before the Euro (ECU) before some of you were born and COMEX Copper ( K17)

Remember: "Everything in the universe moves in a rhythmn. Nothing happens at random. The underlying factors are, in their turn, subject to the same rythymns as the final product.
The whole is not the sum of the parts, but both the whole and parts labor under the same influences".
George Lindsay- Market Analyst. (1906-1987)
 

Comex H17 continued ML 2BC

Comex Copper update

Expect retracement of 50% of recent move and watch for support of the centre line of green PF ABC at around 270.00. It may dip to the CL of  PF 2BC ( not drawn or shown) which would be around the FIB .618 level. Recent fundamentals in Chile will add volatility to price- so we will need to see the next sessions price action consolidating around the arrow shown above.

Comex Copper (H17) afternoon trade update

 Well, Nice! Its great when things go right! ( its not always like this and we often lick our wounds and nurse our egos on a regular basis but hopefully live to trade another day ). I really didnt expect this breakout to happen so soon and we have seen a text book setup for a reaction line trade. There is no doubt that we will see a further attempt at the upside today but expect we will see a lower high ( previous high 271 area)



 Note below the chnage in line location as we drop down to the 30 min time frame

now look when we dropdown to15 mins.... line location. How can a line be in two places at once. The truthis what i have often discussed on this site
Each line is located in a different position in each time frame.This is becuase we are missing a dimension on our X & Y axis charts... take a look

Comex Copper ( H17)

 Lets see what the US session brings.WE have rising support at 263.00 but i am not content to get long here as we have a down sloping RL that may bring price back. However if we see new highs i am prepared to go long on stop around the 265.80 area with a stop below close of 4 hr bar ( 264.00 area) and the reaction line breakout rules apply to this trade. A break and close below the blue upsloping ML will mean a return to the thin green horizontal ML's seen around 256.00 and below.

Comex copper- support and resistance- winding sideways pattern before break out- energy coil?