Hg1
Triangle (and Wedge?) on CopperCopper has been awaiting some Fundamental Change since 2011
From January 2016 markets are awaiting final decision - that is why we see triangles on TYX, EURUSD, Nikkei and some other.
Decision is NOT there yet!!!
Markets will follow either natural cyclic pattern or create NEW VIBRATION after "Information Shock" (ref. The Law of Vibration: The Revelation of William D. Gann, Book by Tony Plummer)
Freeport-McMoran possible trajectoryLong term I'm bullish but if we can get a lift in USD and see metal take a dip we could be looking at a near term high. In an ideal world we bounce up to fill gap at 13 and then roll over and drop back to $5 levels. Tough to believe it could take such a battering but those gaps are there to be filled. One to watch this week.
HG Copper futuresCopper looks like dis-inflation (dare I say "deflation") is a real possibility. Global growth is often reflected in this industrial metal used in electronics to building construction. Multiple consolidation price patterns are forming and massive distribution has obviously taken place. This all happening while crude oil has fallen out of bed, global equities have lagged greatly behind the USA (save India). Target is $2.30 - 2.35 zone depending on velocity. For equity traders/investors, the question is how long can USA equities stay elevated before these global forces catch up.