RE:RE:No Rally before the reportFM is in bullish no mistake, but anyone who has ever traded FM before will see that this is not a normal pattern, volumewise and spreadwise, and copper jumping from 2.148 to 2.172 in a reagular day FM will make at least 5% increase, Copper is being confusing lately going up and down randomly, almost no one know what is behind so that put alot of people bakc.
Another fact is that most people do copper and oil at the same time and oil is being rallying steady, i, myself sold all my FM and bought BTE and ECA last friday and it is been a good journey so far, btw i sold them today )
i beleive for FM to trade normal again two things have to happen, copper has to show some legs to get above 2.2 or falldown so that most people can get in. if you were looking at level 2 today the sell pressure was too high 100ks while buy was barely at 10ks.
to me the fact that it didnt fall below 11.58 when copper fell shows that shareholders are determined to keep it, but today indicated that people trapped above 12 only wanted to get out, do they wanna get in knowing that if oil report is bad market will go down?