-- Posted Friday, 4 May 2012 | | Disqus
Comex copper’s 100 day moving average is at $372.19 and the 200 day moving average is at $371.20. My experience is that the convergence of the 100 day MA and 200 day MA suggests big moves in copper anytime.
· The green circles in the above chat are the convergence between 100 day MA and 200 day MA. There have been big moves in copper whenever the 100 day MA and 200 day MA have converged.
· Bear case: Comex copper needs to trade over $371 or else it will fall to $349 and $299 in the short term before the next leg higher.
· Bull case: If copper is able to trade over $371 then it can rise to $409 and $432 in the short term.
· Be prepared for big moves in copper.
BSE SENSEX 100 DAY MOVING AVERAGE AND 200 DAY MOVING AVERAGE CONVERGENCE
Senxex 100 day moving average is at 17075.48 and the 200 day moving average is at 16909.95. They are nearing convergence.
· The green circles in the above chart are the convergence between the 100 day MA and the 200 day MA. There have been big moves in copper whenever the 100 day MA and the 200 day MA have converged.
· Bear case: Sensex needs to trade over 16900 or else it will fall to 16500 and 15900 in the short term before the next leg higher.
· Bull case: If the Sensex is able to trade over 16900 then it can rise to 17600 and 18500 in the short term.
· Be prepared for big moves in the Sensex and the Indian stock markets.
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-- Posted Friday, 4 May 2012 | Digg This Article
| Source: GoldSeek.com
