Despite the bottom dropping out of the dollar in the last week or so doctor copper seems to be stuck. A close below the current level on the daily chart will likely lead to more downside. This would also be a good indication of where the rest of the market is headed.
Not trading advice. Just some more brain farts. Enjoy :)
For any professional trader the situation is obvious:
1) Rising (bearish) wedge
2) Spinning top candlestick
3) Overbought RSI on both, Daily and Weekly
4) Low volume compared to the previous bullish candle
5) Overinflated P/E
At this point, I can actually finish describing my call since it's more than enough to explain why "short" is the only way to go right...
Berkshire Hathaway bought 33.9 million shares of the banking giant between Monday and Wednesday. That increased Berkshire's stake in Bank of America by $813.3 million to more than $24 billion. BRK holds 11.5% of BAC now.
BAC chart compared to S&P500.
Observe the top of both the NASDAQ and S&P
BAC started bottoming when the 2 indices started falling.
2008 was a...
Hello everyone, We have finally reached out final destination of gold. Right now we have peaked through our previous high, but it could be a regular price spike, just to trigger stoploss and go down. You can short gold now and put stoploss above the current high. We have huge divergence and last time we were at this price of gold, we fell for one month with a few...
