Intraday Market Thoughts
Archived IMT (2010.04.21)
by
Apr 21, 2010 16:50
AUSSIE & FREEPORT-MCMORAN chart http://chart.ly/fyysmt are both on their way down as copper extend losses in 4 out of the last 5 days (see latest weekly article on BDI). FCX, one of the worlds biggest copper producers, beat earnings by 20 cents/per share today but it looks like markets are already pricing in the economic recovery, which may limit any upside in copper and related companies/currencies. HEAD&SHOULDER in FCX is evident. FCX today also falling below BOTH its 55 and 100-day MA. We mentioned yesterday how Aussie fortunes are increasingly gloomy against USD and AUD, with prelim targets at 0.9150 and 0.9215/
Latest IMTs
-
Deflationary Bitcoin صلابة بيتكوين
by Ashraf Laidi | Apr 24, 2024 11:20
-
Of Gold Extensions مقياس إمتدادات الذهب
by Ashraf Laidi | Apr 15, 2024 16:38
-
Bitcoin performance & Miners Prehalving
by Ashraf Laidi | Apr 9, 2024 17:07
-
English Translation to Arabic Interview
by Ashraf Laidi | Apr 7, 2024 21:01
-
فشل الفدرالي في إقناع الأسواق
by Ashraf Laidi | Apr 6, 2024 14:17