As further support for my call, I should also add:
1. the Copper price has now hit my downside target of $2.10, being the bottom of the channel below the channel it fell from and is now back in line with the trendline from 2003. So a gradual rally from here back to the old channel is likely IMO.
2. VIX looks to me to have broken out to the top of the next channel and so has capitulated (at the top).
My references to 1991 were meant to be 1988 and my referece to oversold on the daily future chart I meant hourly chart.
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Last
8,603.0 |
Change
7.200(0.08%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,595.8 | 8,616.8 | 8,589.5 |
| XJO (ASX) Chart |