Monthly chart shows price at resistance of the .786 fib level. Price of copper has been pulling back this month (August 2007). Possible double top here as well.
The weekly chart better shows the double top at the .786 fib level. Price is right at support for now. Look for further weakness and a drop to the .618 to .886 fib level.
The daily chart shows price to be below all short term moving averages, with the 200sma acting as support for now. Short term trend is bearish, with possible support at the 200sma in the short term.
Sunday, August 12, 2007
High Grade Copper Futures (HG #F) Analysis for 08.12.2007
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment