WELCOME

Welcome and thank you for visiting!

The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
please read my full Disclaimer at this link.

Cabin

Cabin

Events

UPCOMING ECONOMIC EVENTS...
* Fri. Sept. 4 @ 8:30 am ET ~ Employment Data
* Fri. Sept. 4 & Sat. Sept. 5 ~ G20 Meetings (Finance Ministers & Central Bankers)
* Mon. Sept. 7 ~ U.S. Holiday: Labour Day (markets closed)
* Wed. Sept. 16 ~ 2-day FOMC meeting begins +...
* Thurs. Sept. 17 @ 2:00 pm ET ~ FOMC Statement + Fed Funds Rate + Economic Projections + @ 2:30 pm ET ~ Chair Press Conference
*** Click here for link to Economic Calendars for additional data

Tuesday, November 15, 2011

Zeroing in on Copper

At the moment, the 50 sma (red) on the Daily timeframe is holding price down on Copper, as shown on the chart below.


A closer look at the one-hour chart below, shows a confluence of Fibonacci and trendline resistance at 3.54...at the time of writing this post in after-hours trading, price reached up towards this level and fell back to near-term support...a further drop could send price back down to 3.45...otherwise, a move and hold above 3.54 could see price reaching 3.60 or 3.62. Volumes were elevated today, so a major move may be imminent.