The Bonddad Blog
Still nerdy after all these years
Wednesday, December 30, 2009
Wednesday Commodities Round-Up
A.) Copper is in a clear uptrend.
B.) As prices have risen they have also consolidated at various times.
C.) Prices have also broken through key areas of resistance.
D.) Momentum is fair. It has risen for the last two peaks with the second MACD reading being above the first peak, but there isn't a strong trend in place.
E.) Money continues to flow into the market. This is very important as it indicates traders have been adding to their positions over the last six months.