Wednesday, December 9, 2009

Wednesday Commodities Round-Up

Copper has been in an uptrend for the last four months. Along the way we've seen several consolidation patterns (a rounding top in August - September and two pennant patterns after that), but the overall trend is still up. A.) In addition we've seen a continued increase in the A/D line indicating increasing volume flowing into the markets. B.) While momentum dropped a few months ago, it is returning.

The EMA picture is bullish. The shorter EMAs are above the longer EMAs, all the EMAs are rising and prices are above the EMAs.