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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 8935
Forum Topic:

Gold, Oil & Indices (Equity & Bond Indices)

Discuss Gold, Oil & Indices (Equity & Bond Indices)
 
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DaveO
N.Cornwall, UK
Posts: 5733
11 years ago
Mar 25, 2013 17:22
They had better hurry up and start building the new Hinckley or it will be too late :-)
Qingyu
manchester, UK
Posts: 1763
11 years ago
Mar 25, 2013 15:03
crude running wild...

i guess, must be news of china buy more...
Qingyu
manchester, UK
Posts: 1763
11 years ago
Mar 22, 2013 11:40
In reply to DaveO's post
i know, they are always dirty criminals.
DaveO
N.Cornwall, UK
Posts: 5733
11 years ago
Mar 22, 2013 11:27
In reply to Qingyu's post
Yes, my point was that when copper was bullish every tom dick and harry technical commentator used it to justify the rise in global equities, the macro economics had to be good if copper was strong. Now that copper is bearish you don't see the carnival barkers worrying about equity levels.
Qingyu
manchester, UK
Posts: 1763
11 years ago
Mar 22, 2013 9:50
btw, copper feb drop maybe link to western sounds on china dont buy more copper and they already have hudge copper stock as finance deposit.
Qingyu
manchester, UK
Posts: 1763
11 years ago
Mar 22, 2013 9:47
i bet on the gap between wti and brent. :)
Qingyu
manchester, UK
Posts: 1763
11 years ago
Mar 22, 2013 9:31
thanks, dave.

i have no idea on macro, but copper rather like china proxy than bullish sign.

maybe short wti long brent is a good hedge.
DaveO
N.Cornwall, UK
Posts: 5733
11 years ago
Mar 21, 2013 20:22
Its funny how all the stock bull commentators who used to sight Copper as being their justification for macro economic bullishness suddenly never seem to mention copper now. The technicals for copper look pretty dire !!!
DaveO
N.Cornwall, UK
Posts: 5733
11 years ago
Mar 21, 2013 20:09
I think the caveat is that daily support from the 77.28 low and if you look on weekly chart we have bullish macd momentum divergence. However this is not very relevant for your 88.24 target.
DaveO
N.Cornwall, UK
Posts: 5733
11 years ago
Mar 21, 2013 19:58
In reply to Qingyu's post
sorry Q, was having connection problems.

Yes it looks short on daily and the move up from 89.34 low might have been a W.4 which would suggest prices to find lower low.

But potential support first at 100 and 200 DMA's 91.30 and 90.72. Then the larger trend support drawn from the 77.26 low comes in at 90.30 (and rising). The 200 WMA sits at 87.05 (and rising). My 70.7% level at 88.24. Stochastics on daily are nicely hooked down but on weekly could be trying to hook up at the 25 level. Weekly resistance at 94/94.07
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