Posts
Ole Doc Copper has struggled since 2011, as it created a series of lower highs. Over the past 90-days, Doc Copper has experienced some impressive upside action.
Below looks at Doc Copper Futures over the past 4-years-
CLICK ON CHART TO ENLARGE
Doc Copper created a series of lower highs below line (1) over the past few years. Earlier this year it hit falling resistance again and backed off. Over the past 6-weeks, Copper has witnessed some bullish price action it hasn’t in the past few years, which is breaking above falling highs.
A few weeks ago Copper broke above falling resistance (1) and highs earlier this year at (2). The rally of late now has it testing 2015 highs at (3). A breakout above (3) would send a bullish breakout message to Copper, with the next key horizontal resistance coming into play at the $3.25 level, which was 2014 highs.
How are members playing Doc Copper strength? Buy owning Freeport McMoran (FCX). A position was taken in FCX, by Premium, Metals and Sectors members 90- days ago.
CLICK ON CHART TO ENLARGE
Doc Copper weakness over the past few years seemed to have little impact on the broad market. Will Doc Copper’s strength over the past few months and breaking above multi-year falling resistance, have a positive impact on the broad market and suggest that some economic strength is around the corner? In our humble opinion it is too early to tell. The Power of the Pattern did share that an opportunity was in play to make some decent Pocket Change 90-days ago and so far that message has not changed. as gains continue to pile up.
from Kimble Charting Solutions. We strive to produce concise, timely and actionable chart pattern analysis to save people time, improve your decision-making and results
Send us an email if you would like to see sample reports or a trial period to test drive our Premium or Weekly Research
Website: KIMBLECHARTINGSOLUTIONS.COM
Questions: Email services@kimblechartingsolutions.com or call us toll free 877-721-7217 international 714-941-9381
0 comments:
Post a Comment