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TFC Commodity Trading Forum

Re: Dec /Copper/Silverbear *PIC*
In Response To: Re: Dec Crude/Silverbear ()

Yes I've been looking at Dec Copper.I've overlaid the Copper ETF:JJC in pink to compare. I'd trade that. Price is coming down to support and the RSI 21 is below the very oversold 30 line which is rare. Seasonal trend charts show a declining October and then late Oct a strong rally occurs right through November. Dec is bearish and then Jan right through March is very bullish. So the trend is also suggesting a low in here anytime now. Seasonals can be early or late or even inverse now and again but the 5yr and 15yr and 30yr are all saying the same thing so odds favor a low 'soon' and a rally. That would fit well with an oversold bounce in the SPX etc too. A lot of traders are heavily on the bear side again. Likely time to clean them out like they did the bulls earlier. A couple of closes above the 4ema would get me long in here even with a falling 20ema which is below a falling 50ema which is below a falling 200ema and the RSI 21 below 50. Jeez, I'd better quit looking at those bearish indicators or I won't trade the bounce,lol.

Messages In This Thread

Dec Crude/Silverbear *PIC*
Re: Dec Crude/Silverbear
Re: Dec /Copper/Silverbear *PIC*
Re: Dec /Copper/Silverbear