COPPER HAS MANAGED TO TRADE FIRMLY ABOVE THE RESIS & BEST SHORT LEVEL 439 HOWEVER THE TECHNICAL STOP LOSS @ 442.80 WHICH WAS VIOLATED REPEATEDLY & ALSO MANAGED TO SURGE
ABOVE THE SHORT TERM / POSITIONAL TRADERS STOP LOSS 448.60 WHICH COULD HAVE BEEN CONSIDERED AS MANIPULATION ... BUT TODAY IN THE EARLY SESSION COPPER ALSO VIOLATED THE TAPE
READING LEVEL @ 450.15 WHICH WE ASSUME IS A VERY BAD SIGN FOR THE BEARS ,,, WE ARE IN A LONG TERM BEAR TREND IN COPPER & TARGET 382 (ALSO A GAP FILLING TGT) IS ACTIVE BUT FOR
SPECULATION PURPOSE & SWING TRADERS SHOULD BE VERY CAUTIOUS NOW AS THERE MAY BE ONE MORE RAGE RALLY (BULL EXHAUST RALLY) IN COPPER PRICES BEFORE THE BIG SELL OFF !
THE SECOND FACTOR IS THE DAILY TREND IN WORLD INDICIES IS SHOWING BULLISH SIGNS & THE STRONG THE INDEX MARKETS, STRONGER THE CRUDE & COPPER .IT MAY TRADE IN NEGATIVE OR MAY DIP IN THE AFTERNOON SESSION BUT IT IS VERY MUCH LIKELY TO TAKE SUPP & BOUNCE AHEAD
TODAYS CRUCIAL PIVOT POINT FOR COPPER IS @ 446.20 , RISK APPETITE TRADERS & SPECULATORS CAN BUY COPPER IF GET 446.40 & ON DIPS & AVERAGE IF GET 441.80 FOR TARGET OF 464/469.50/476/482
IF HOLDS 446.20 & STALLS FOR THE DAY AND TRADES FLAT AGAIN IF CRACKS TILL 441.80 TRADERS NEED NOT HAVE TO PANIC BECAUSE THE UPSIDE RALLY WILL BE VERY SHARP , SWIFT & NOTHINGN CAN STOP IT TESTING 476/482
SL - BELOW 436
**MORE EXPLANATION REGARDING INVERSE PATTERN & THE EFFECT ON OTHER COMMODITIES & SUPPORTING FACTORS ARE ONLY FOR PREMIUM MEMBERS**
ALL MCX INTRA DAY - POSITIONAL CALLS / UPDATES ARE PUBLISHED IN THE GROUP "MARKET MOVERS''
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