RE:RE:RE:RE:RE:RE:Q3 production report any day nowJoeStockIQ wrote:
Not concerned when they release. More importantly Cog, what's your TA telling you about copper prices over the next month or so?
Copper price is girating in a decreasing range pattern established in March ... each peak is lower and each trough is higher. The interesting thing is that the daily price fluctuation is still quite large.
Bottom line: still a lot of aggression in the trading (large daily fluctuations), yet the depth of sentiment is reducing (narrower overall range of peaks and troughs).
At the current rate of support/resistance convergence, the market still has about 3-4 months before the lines meet... the longer it keeps within that narrowing range, the larger the move once it breaks up or down.
Fundamentals would suggest
up ... short term stupidity south of our border may suggest
down for a short spell.