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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
an expanded version of my trading journal...
* Major World Market Indices
* Futures Markets
* U.S. Sectors and ETFs
* Commodities
* U.S. Bonds
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* Wed. July 1st ~ Canadian Markets closed for Canada Day holiday
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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.