Copper 1 Month Golden Cross
A rare feature in this timeframe.
Many times, a so-called Golden Cross is pointed at, when actually it is not a truly one.
A real Golden Cross is when an ascending 50 x MA is crossing an ascending 200 x MA (x being the timeframe -Day, Week, Month...)
Of course, the larger the timeframe, the more significant is the pattern.
I personally like to consider a combination of 20 MA, 50 MA and 200 MA (simple MAs):
When ascending 20 MA is crossing ascending 50 MA and, in the same conjunction space, the 50 MA is crossing the ascending 200 MA.
The point that MAs must be ascending is really important, though too often overlooked. It's what gives its strength to the configuration.
As we are probably seeing an end to the consolidation pattern in Copper (to north), it's remarkable to notice this nice tripartite Golden Cross in the 1 Month timeframe.
Many times, a so-called Golden Cross is pointed at, when actually it is not a truly one.
A real Golden Cross is when an ascending 50 x MA is crossing an ascending 200 x MA (x being the timeframe -Day, Week, Month...)
Of course, the larger the timeframe, the more significant is the pattern.
I personally like to consider a combination of 20 MA, 50 MA and 200 MA (simple MAs):
When ascending 20 MA is crossing ascending 50 MA and, in the same conjunction space, the 50 MA is crossing the ascending 200 MA.
The point that MAs must be ascending is really important, though too often overlooked. It's what gives its strength to the configuration.
As we are probably seeing an end to the consolidation pattern in Copper (to north), it's remarkable to notice this nice tripartite Golden Cross in the 1 Month timeframe.
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