{"id":431,"date":"2013-03-13T09:45:49","date_gmt":"2013-03-13T09:45:49","guid":{"rendered":"http:\/\/www.futurestechs.co.uk\/blog\/?p=431"},"modified":"2013-03-13T09:49:19","modified_gmt":"2013-03-13T09:49:19","slug":"copper-bottom-thats-what-the-charts-suggest","status":"publish","type":"post","link":"https:\/\/www.futurestechs.co.uk\/news\/2013\/03\/13\/copper-bottom-thats-what-the-charts-suggest\/","title":{"rendered":"Copper Bottom? Thats what the charts suggest"},"content":{"rendered":"

We write Analysis on a daily basis for over 30 different markets each day. Sometimes a chart comes along that smacks us in the face and says “Buy” or “Sell”. This doesn’t mean there’s a trade to do, as the risk\/reward has to be right, as well as\u00a0the market conditions.<\/p>\n

This morning we’ve had one such moment, when looking at the Copper Chart.<\/p>\n

Below is this morning’s report:<\/p>\n

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We have now seen a move away from trend support, suggesting that this line was a bridge too far for the bears.<\/em><\/div>\n
<\/div>\n
Yesterday\u2019s move higher didn\u2019t come as a massive surprise thanks to the Hammer we highlighted on the daily chart this time yesterday.<\/em><\/div>\n
\u00a0<\/em><\/div>\n
We also have a \u201cDouble Bottom\u201d buy signal with the move through 354.45 and now we\u2019d ask that this level, and\/or Marabuzo support at 353.70, do a job as support to add weight to the idea that we\u2019ve bottomed out.<\/em><\/div>\n
\u00a0<\/em><\/div>\n
We won\u2019t have to wait too long to find out!<\/em><\/div>\n
\u00a0<\/em><\/div>\n
The next task for the Bulls is to take out bold resistance around 360.<\/em><\/div>\n
<\/div>\n
We had highlighted the Hammer candlestick in yesterday’s report. A hammer is a candle with a long lower shadow and a small real body at the top of the day’s range, the result of a downside rejection-type move. We watch out for these then ask for a confirming move, which is what’s been seen here. These are especially important if seen at key technical levels like the uptrend line on the longer term Copper charts right now.<\/div>\n
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Below are the charts:<\/div>\n
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Daily Chart showing Hammer candle on trend support which just appears at the bottom right hand side of the chart.<\/div>\n
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\"Copper<\/a><\/div>\n
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Weekly Continuation Chart showing this trendline from it’s starting point. This chart suggests upside might be limited to the downtrend line which sits at 371 at present.<\/div>\n
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\"Copper<\/a><\/div>\n
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So\u00a0what’s the trade?<\/div>\n
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BUY (May ’13) Copper at 355,<\/div>\n
Stop at 345,<\/div>\n
Target 1 is 370<\/div>\n
Target 2 is 379<\/div>\n
<\/div>\n
This offers good enough Reward\/Risk although it’s not totally ideal. We would like to see support levels around 353-55 holding today, and then we’ll be comfortable moving the stop up to near entry.<\/div>\n
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Risks to the trade: We’ve entered too early and need to wait a bit longer to see if 353-55 is indeed a strong support zone.<\/div>\n
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We also like the idea of buying AUDUSD this morning, but you have to be a client to get more on this!<\/div>\n
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Feel Free to request a Free Trial using the buttons above.<\/div>\n
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We\u00a0analyse a wide range of contracts\/instruments covering Commodities, Forex, Equity Indices, Individual Equities, and Bonds\/STIRs.<\/div>\n
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We write Analysis on a daily basis for over 30 different markets each day. Sometimes a chart comes along that smacks us in the face and says “Buy” or “Sell”. This doesn’t mean there’s a trade to do, as the risk\/reward has to be right, as well as\u00a0the market conditions.
\nThis morning we’ve had one such moment, when looking at …<\/p>\n

Read more<\/a><\/p>","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,6],"tags":[76,79,112,638,150,236,268,639,674,554,563],"class_list":["post-431","post","type-post","status-publish","format-standard","hentry","category-commentary","category-technical-analysis","tag-candlestick-analysis","tag-candlestick-charts","tag-clive-lambert","tag-copper","tag-double-bottom","tag-futurestechs","tag-hammer","tag-hammer-candle","tag-technical-analysis","tag-trendlines","tag-uptrend-lines"],"_links":{"self":[{"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/posts\/431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/comments?post=431"}],"version-history":[{"count":3,"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/posts\/431\/revisions"}],"predecessor-version":[{"id":435,"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/posts\/431\/revisions\/435"}],"wp:attachment":[{"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/media?parent=431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/categories?post=431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.futurestechs.co.uk\/news\/wp-json\/wp\/v2\/tags?post=431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}