HG - will it bounce too?
Atualizado
Copper primed for a bounce. We are in the late stages of creating a right shoulder in a slanted H&S pattern that dates back to 2 years.
In the short term, it looks like selling is exhausting itself (recent move down is low volume). I could bounce all the way back up to the 2.8xxx level before moving down decisively.
Once it breaks 2.57xx then wit should move down to the long term trend line that was established in 2002/3 time period, which should hold.
In the short term, it looks like selling is exhausting itself (recent move down is low volume). I could bounce all the way back up to the 2.8xxx level before moving down decisively.
Once it breaks 2.57xx then wit should move down to the long term trend line that was established in 2002/3 time period, which should hold.
Nota
indecision week. 10dma continues to act as resistance for HG. Briefly touched the 2.59xx level worthwhile to take a stab at a long with a SL at $2.57. I would target a .318 ($2.73) to .50 ($2.77) retrace before it moves lower.
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