weekend 1st aid and plan of attack, page-13

Technical Comment:

Copper is now well below a major support level - now oversold.
MACD below Zero. Negative.
MACD Histogram below Zero but levelling out. Neutral.
RSI: 37.6. Low down in the caution zone (30-40). Could rebound. A break
above its down trend line would be positive.
Stochastic: 16.2. Oversold. Positive divergence from price.
CCI.20. -96.2. Back above -100. That?s a ?buy? signal.
13-Day MA well below 150-Day MA. Negative.
This chart shows a huge rounding top. Negative.

Short term signs indicate a possible rebound. A test of major resistance looks probable.

(Above is part of my regular Weekly Report to be put up tomorrow - still in the process of being written.)

Note - in American market, copper futures were down slightly on the week. SP500 was down slightly on the week. They were in sync. I think that's a better comparison to make - if you have to make a short term comparison.

Cheers
Redb