Setup Condition for Copper (October 08 W4)
October/19/2008 20:51 Filed in: Commodity Monthly Analysis
In the Metal commodities Copper shows good setup conditions this week:
Conditions:
-AboySetup1 Commercial Buying Estimator: high >80%
-AboySetup2 Commercials Index: high > 80%
-AboySetup3 Sentiment Index: low < 20%
-AboySetup4 Large Traders Index: low <20%
-AboySetup5 Small Traders Index: moderate < 35%
-AboySetup6 Fundamental Valuation Index : undervalued <20%
-AboySetup7 Seasonal: around the lowest points
-Stochastic: oversold <20%
-ADX: still waiting for a maximum and reversal
Analysis:
-Copper has good setup conditions. The specific entry technique depends on the system used and the tolerance for risk. Buying long would require the price to move above of 223.70 (i.e. buy long on stop at 223.70) with a stop at 205.50.
Conditions:
-AboySetup1 Commercial Buying Estimator: high >80%
-AboySetup2 Commercials Index: high > 80%
-AboySetup3 Sentiment Index: low < 20%
-AboySetup4 Large Traders Index: low <20%
-AboySetup5 Small Traders Index: moderate < 35%
-AboySetup6 Fundamental Valuation Index : undervalued <20%
-AboySetup7 Seasonal: around the lowest points
-Stochastic: oversold <20%
-ADX: still waiting for a maximum and reversal
Analysis:
-Copper has good setup conditions. The specific entry technique depends on the system used and the tolerance for risk. Buying long would require the price to move above of 223.70 (i.e. buy long on stop at 223.70) with a stop at 205.50.