A multi-year head and shoulders pattern neck line in copper has been recently broken. The pattern can best be seen in the long weekly chart of copper at www.finviz.com or "All Data" chart of JJC at www.bigcharts.com. The break projects to ~1.50 or so, a long way down. If you subscribe to the leading role of Doc Copper for the stock market, this does not augur well for the S&P either. Reasons for the bearish pattern seem to be recession/depression in Europe and end of the building bubble in China.
Doc Copper Head & Shoulders Neck Line Break
Started by
Douglas
, Apr 17 2013 07:20 AM
1 reply to this topic
#2
pisces
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Posted 17 April 2013 - 07:54 AM
A multi-year head and shoulders pattern neck line in copper has been recently broken. The pattern can best be seen in the long weekly chart of copper at www.finviz.com or "All Data" chart of JJC at www.bigcharts.com. The break projects to ~1.50 or so, a long way down. If you subscribe to the leading role of Doc Copper for the stock market, this does not augur well for the S&P either. Reasons for the bearish pattern seem to be recession/depression in Europe and end of the building bubble in China.
thanks for pointing that out,the JJC chart also shows a sym tri[right shoulder] which broke down @44.00 and targets 32.00
so shorting a bounce here near 42.00,should give us 10 pts over time.strong support@36-37.00,there will be rallies.
good luck,
