On 2nd December I had presented elliott wave analysis suggesting that Copper futures would meet some resistance around 417, and hence buying some out-of-the-money puts near there might be an interesting trade idea. Surprise, today Reuters is reporting on copper that technicals are pointing to weaker prices after it hit record levels at 413. In the short term, look out for a 50% recovery of the dip from 413 to current lows. If prices start coming off quickly from there, you should join in. The initial target will be below 365. Good luck.
- Elliott Waves
- Elliott Waves Explained
- Elliott Wave Magic Illustrated with Wave Charts
- Elliott Wave Edge – How Elliott Wave Traders Win
- Fibonacci Number Series and Elliott Waves
- How to use Fibonacci Ratio Retracements
- Elliott Wave Books
- Ramki’s Watchlist
Copper: short term outlook
By Ramki7 Comments1 Min Read
Previous ArticlePalm Oil Outlook Still Strong : 6 Dec 2010
Next Article Copper: Edging closer to top.
Thank you Mr. Ramki, as always al ot to learn from your charts and your analysis.
Mr Ramki, can you please give us an update on Gold, its been sometime now since your last update.
I know many of you have been asking for updates on Gold. Will try to post that. Meanwhile, Copper has raced back and didn’t find any sellers at the 50% or 62% levels. So now we wait to see what happens at 417 and 448 as originally suggested.
I am amazed to watch you views on different markets. I would like to have your recent view on Karachi Stock Exchange. I would like inclusion of KSE 100 index in your Asian stock market converage.
Syed, Thanks for the comment. Will try and include it. Regards
Sir, please also update about nifty
Thank you Mr. Ramki for your prompt response as always, and can’t wait for your update on GOLD, it’s interesting really, every time it indicates a top pattern is about to form, it fails and continues higher.
I guess the time hasn’t come yet, but from a risk reward prospective I see the risk is much higher to invest in Gold compared to the rewards, what was 2% upside move in gold when it was at 1K/ounce compared to now, even if it reaches to 1650 levels
Silver also is an interesting story it took 30 years to retrace 50% from its ATH of 49.50 levels during the famous Hunt Brothers in 1979/1980. “Are they Back”
Can I have your elliott wave view on KSE 100 INDEX.