Daily
There are some interesting technical patterns in the daily
chart. In late October, Copper attempted
to rally past the 50 day moving average but failed until a push through at the
end of November which ended up failing and setting up a double bottom.
Early in 2012 Copper finally broke through the 50 day moving
average making a beeline straight for the 50 day moving average.
In the past week Copper broke above the 50 day moving
average and has recently sold off back to the 200 day moving average. A successful retest will turn resistance into
support leading to a move to $4.20 and then $4.50.
Technically the RSI is neutral at 50 and the MACD is ready
to roll over. The MACD may mean lower
prices ahead but the RSI is neutral leading me to believe that any sell off
will be brief.
Weekly
The weekly chart is a bit more interesting with the price
testing the 50 week moving average resistance level. The RSI and MACD are bullish with the RSI
pulling back after approaching the overbought level. Looking at the weekly chart I am more
inclined to look for a short pullback before a move to $4.25.
================
Two weeks ago I did an interview with investortoday.ca on 2012. For those regular readers I am more bullish
there than my general commentary for good reason. Please feel free to check it out and as a
reminder the 2012 Investment Forecast is now available.
Link to interview: http://investortoday.ca/interviews/Urban/12Jan2012/12Jan2012.html
The 2012 Investment
Forecast is now available!!!!
Thank you for your
patience.
The 2012 Investment
Forecast is finally finished and ready for sale. My apologies for the final week’s delay as my
original outlet caused some unnecessary consternation forcing me to seek a
different outlet.
I am pleased to say
that the 2012 Investment Forecast is available through smartwords.com, the
world’s largest independent ebook distributor, by
clicking here.
Smartwords distributes
to Apple, Barnes & Noble, Sony, Kobo, Diesel, and others along with
instructions on downloading to your Kindle meaning that this and future work
will be available in multiple formats from mobi to ebook to pdf.
As a sign of
forgiveness for being so late I am dropping the price from $20 to $15. Quarterly commentaries will be priced at $5
while next year the yearly forecast will return to $20.
If you wish to place a banner ad and help distribute the 2012
Investment Forecast and future works I am offering a 25% commission on all
sales. You can find more information
here: http://www.smashwords.com/about/affiliate
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PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THERE IS RISK OF LOSS AS WELL AS THE OPPORTUNITY FOR GAIN WHEN INVESTING IN THE STOCK, BOND, AND DERIVATIVE MARKETS. WHEN CONSIDERING ANY TYPE OF INVESTMENT, INCLUDING HEDGE FUNDS, YOU SHOULD CONSIDER VARIOUS RISKS INCLUDING THE FACT THAT SOME PRODUCTS: OFTEN ENGAGE IN LEVERAGING AND OTHER SPECULATIVE INVESTMENT PRACTICES THAT MAY INCREASE THE RISK OF INVESTMENT LOSS, CAN BE ILLIQUID, ARE NOT REQUIRED TO PROVIDE PERIODIC PRICING OR VALUATION INFORMATION TO INVESTORS, MAY INVOLVE COMPLEX TAX STRUCTURES AND DELAYS IN DISTRIBUTING IMPORTANT TAX INFORMATION, ARE NOT SUBJECT TO THE SAME REGULATORY REQUIREMENTS AS MUTUAL FUNDS, OFTEN CHARGE HIGH FEES, AND IN MANY CASES THE UNDERLYING INVESTMENTS ARE NOT TRANSPARENT AND ARE KNOWN ONLY TO THE INVESTMENT MANAGER.
Communications are intended solely for informational purposes. Statements made should not be construed as an endorsement, either expressed or implied. This article and the author is not responsible for typographic errors or other inaccuracies in the content. This article may not be reproduced without credit or permission from the author. We believe the information contained herein to be accurate and reliable. However, errors may occasionally occur. Therefore, all information and materials are provided “AS IS” without any warranty of any kind. Past results are not indicative of future results.
PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THERE IS RISK OF LOSS AS WELL AS THE OPPORTUNITY FOR GAIN WHEN INVESTING IN THE STOCK, BOND, AND DERIVATIVE MARKETS. WHEN CONSIDERING ANY TYPE OF INVESTMENT, INCLUDING HEDGE FUNDS, YOU SHOULD CONSIDER VARIOUS RISKS INCLUDING THE FACT THAT SOME PRODUCTS: OFTEN ENGAGE IN LEVERAGING AND OTHER SPECULATIVE INVESTMENT PRACTICES THAT MAY INCREASE THE RISK OF INVESTMENT LOSS, CAN BE ILLIQUID, ARE NOT REQUIRED TO PROVIDE PERIODIC PRICING OR VALUATION INFORMATION TO INVESTORS, MAY INVOLVE COMPLEX TAX STRUCTURES AND DELAYS IN DISTRIBUTING IMPORTANT TAX INFORMATION, ARE NOT SUBJECT TO THE SAME REGULATORY REQUIREMENTS AS MUTUAL FUNDS, OFTEN CHARGE HIGH FEES, AND IN MANY CASES THE UNDERLYING INVESTMENTS ARE NOT TRANSPARENT AND ARE KNOWN ONLY TO THE INVESTMENT MANAGER.
Before making any type of investment, one
should consult with an investment professional to consider whether the
investment is appropriate for the individuals risk profile. This is not
intended to be investment advice or a solicitation to purchase any of the
securities listed here. I will not be held liable or responsible for any losses
or damages, monetary or otherwise that result from the content of this article.
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