after a 711% bullish rally in less than a year, I believe it is going to test its 50EMA, lower border of the channel and previous low at the same time! if it breaks below all three at the same time! a new ear will start! this might happen in the next 2 week, I will keep this on the watch list for daily candle closure below 32 for safe entry.
looking at your chart, it has strong support at 31.99 right? finally gapped down today in volume. Waiting to see if it will break that level tomorrow. Thank you for what you do!
huntfrizz
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I find this at odds with some of your other calls, though I understand it is conditional. Copper has traded almost in tandem with the 10 year the last 6 months. It is still holding support and if the Fed reiterates that inflation is only transitory that should propel commodities for another leg higher generally speaking.
I tend to believe the only thing weighing on copper in general is the poor feb numbers due to weather, but that the fed will orchestrate the next leg higher.
huntfrizz
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@huntfrizz, well thank you for the warning, you at least made me doubt enough to lighten up.
jmai64
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Thanks Moshkelgosha!!! Copper, Gold and Oil down? Is the s&p500 besides the ndx100 ready for a significant correction of at least 10%?