I don’t have too much to say at this point – except that copper is making me a bit nervous:
As you know those divergences usually end in tears. But as long as HG can remain above 4.2 we should be okay – if it drops through that mark equities may get hit in the process. This is the only fly in the bullish ointment I see right now – but it’s usually one I take very seriously. I also think that we may be due for a little reversal in equities by the end of this week – let’s see how high they can push it until then.
Alright, here is one setup on the FX side that sprung out at me:
FX setup and commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.
As you know currencies often blow beyond what one thought would be firm resistance. So I would give this at least until 118.5 and then try for a play back to 114ish. I just looked at a shorter term chart and we may run up a tiny bit more – so be patient and make sure you get a good fill.
I’m going to dig around for a few more of these – if I find anything I’ll post it below. So reload this page every 15 minutes or so.