Update: Neutral-to-Bearish | $Copper #copper #preciousmetals
Friends,
On February 01st, we posted a bearish target at 2.999 with a cautionary note that this DAILY copper chart will likely print a relief rally to the structure dwelling at 3.288 above.
Since that cautionary remark, price has indeed moved 8 incremental candles towards that target, with a shallow respite, which basic pattern traders might possible grab as a burgeoning symmetrical AB-CD pattern aiming squarely at our 3.288 mark.
Caveats: A break above the 3.380 should concern the bear, while a new structure high would invalidate our outlook, although data can be quite subtle and maintain a chart in a bearish stance even with recent bullish events. So, more on this if and once we get to these adverse excursion level.
OVERALL:
While this interim bullish relief unfolds at a glacial speed, we remain bearish as to the larger scope of this metal. Hence, our bearish target remains in force and the predictive analysis that generated it remains intact. Our "Neutral" qualifier remains in place until the relief rally scenario consumes itself.
Cheers,
David Alcindor | 4xQuad
Predictive Analysis & Forecasting
Denver, Colorado, USA
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PS: Here is a weekly SPX chart worth considering:
www.tradingview.com/e/GK5wJ5WN/
- Other recent analysis and charting:
AAPL - www.tradingview.com/e/OqhN6oTc/
AMD - www.tradingview.com/e/ySdvtzok/
EBAY - www.tradingview.com/e/XWUVhvT0/
FB - www.tradingview.com/e/tfPPZa0e/
GOOG - www.tradingview.com/e/J5A3VRWX/
MSFT - www.tradingview.com/e/SLHE0cgv/
TWTR - www.tradingview.com/e/Rnr5FZ93/
-------------------------------------------------
- Follow us on Twitter: @4xForecaster
- See our live charts on TradingView.com: 4xForecaster
- Our social history is on Facebook: www.4xQuad.com
Recent forecast hits:
1 - #USDollar: on.fb.me/19Pf77y
2 - #AUDUSD: on.fb.me/1kDHbdB
3 - #NGAS: on.fb.me/1aSMYHV
More archived here: bit.ly/16JMnH8
---------------------------------
Disclaimer: All of our analyses are for educational purpose only. The forecasts, analyses and opinions generated herein are not trading recommendations. We trust that you would do your own due diligence first, then seek professional advice from a licensed professional and enter the market at your own perils - David Alcindor - a.k.a.: 4xForecaster | 4xQuad, LLC.
On February 01st, we posted a bearish target at 2.999 with a cautionary note that this DAILY copper chart will likely print a relief rally to the structure dwelling at 3.288 above.
Since that cautionary remark, price has indeed moved 8 incremental candles towards that target, with a shallow respite, which basic pattern traders might possible grab as a burgeoning symmetrical AB-CD pattern aiming squarely at our 3.288 mark.
Caveats: A break above the 3.380 should concern the bear, while a new structure high would invalidate our outlook, although data can be quite subtle and maintain a chart in a bearish stance even with recent bullish events. So, more on this if and once we get to these adverse excursion level.
OVERALL:
While this interim bullish relief unfolds at a glacial speed, we remain bearish as to the larger scope of this metal. Hence, our bearish target remains in force and the predictive analysis that generated it remains intact. Our "Neutral" qualifier remains in place until the relief rally scenario consumes itself.
Cheers,
David Alcindor | 4xQuad
Predictive Analysis & Forecasting
Denver, Colorado, USA
--------------------------------------------------
PS: Here is a weekly SPX chart worth considering:
www.tradingview.com/e/GK5wJ5WN/
- Other recent analysis and charting:
AAPL - www.tradingview.com/e/OqhN6oTc/
AMD - www.tradingview.com/e/ySdvtzok/
EBAY - www.tradingview.com/e/XWUVhvT0/
FB - www.tradingview.com/e/tfPPZa0e/
GOOG - www.tradingview.com/e/J5A3VRWX/
MSFT - www.tradingview.com/e/SLHE0cgv/
TWTR - www.tradingview.com/e/Rnr5FZ93/
-------------------------------------------------
- Follow us on Twitter: @4xForecaster
- See our live charts on TradingView.com: 4xForecaster
- Our social history is on Facebook: www.4xQuad.com
Recent forecast hits:
1 - #USDollar: on.fb.me/19Pf77y
2 - #AUDUSD: on.fb.me/1kDHbdB
3 - #NGAS: on.fb.me/1aSMYHV
More archived here: bit.ly/16JMnH8
---------------------------------
Disclaimer: All of our analyses are for educational purpose only. The forecasts, analyses and opinions generated herein are not trading recommendations. We trust that you would do your own due diligence first, then seek professional advice from a licensed professional and enter the market at your own perils - David Alcindor - a.k.a.: 4xForecaster | 4xQuad, LLC.