Copper At Interesting Juncture
Each evening we
focus on the most interesting aspects for the upcoming
trading day. The comments are based on observations of the
nightly updates of the Futures and Market Bias pages. They
are provided for educational purposes only and are not
intended to be direct trading advice. Also, keep in mind
that these remarks are made up to 12 hours in advance of the
markets opening. Therefore, overnight events may alter the
outcome of these observations.
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The December Canadian Dollar
(
CDZ1 |
Quote |
Chart |
News |
PowerRating), mentioned Friday, is still
set up as a low level
cup and handle. This action suggests that it could make another thrust higher.
Wait for follow through though, as it was down on Monday.
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March copper
(
HGH2 |
Quote |
Chart |
News |
PowerRating) has now retraced about
half of its melt up from lows. If this rally is for real, this might be a good
area for a reversal.
Follow Up
The December Yen
(
JYZ1 |
Quote |
Chart |
News |
PowerRating), mentioned
recently, continues to drop. If you have profits
here, you might want to lock in a piece.
Best of luck with
your trading on Tuesday!
face=”Arial, Helvetica”>Dave Landry
P.S. Reminder:
Protective stops on every trade!
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