Wednesday, May 31, 2006

Copper HG COMEX Futures

Copper is extremely parabolic. I'm sure there are excellent fundamentals for the extraordinary spike in the price of copper but technically it is extreme. On the daily chart both RSI and PPO are trending down but the price haven't pulled back much. Copper is forming some kind of triangle pattern and pattern resolution should soon follow. The weekly charts tells a different story , RSI and PPO looks pretty good and the pattern still looks reasonably bullish. Copper haven't necessarily seen its top yet.

Copper Hg comex Futures daily chart

Copper Hg comex weekly chart

Copper Futures , Comex : HG long term chart

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