Wednesday, January 6, 2010
Wednesday Commodities Round-Up
A.) This is the first upward sloping trendline of the copper chart. Prices broke this trendline at the end of September/early October.
B.) This is the second trendline of the copper chart. While prices broke this trendline in December, they have since rallied above it.
C.) Along the way we prices have consolidated in various standard consolidation patterns.
A.) The EMA picture is very bullish. Prices are above the EMAs, all the EMAs are moving higher and the shorter EMAs are above the longer EMAs.
A.) Momentum is increasing again. Also note it is advancing from a low/weak level.
B.) The A/D line has been advancing for the last 6 months. This tells us money is moving into the security.