A look at the Weekly COPPER chart discloses a gorgeous Rhino, ready for the stalking. Get out your .375 Mashburn Magnums guys n' gals, and follow me through the bush. This Rhino is grazing contentedly at support as we speak. His ears are twitching a bit, but he doesn't sense our presence yet. The daily chart shows that he is ready to undulate into an ungulate trot at any moment. That trot will turn into a gallop in a couple of weeks, and then a stampede if the price gets out of the forming triangle at around 1.17. The call? BUY copper. Take initial testing position with small bite now. Enlarge positions if the rally toward the overhead downtrend line unfolds. Buy final positions at breakout from downtrend line, which could occur somewhere around 1.17. If support line is violated, consider going short, but Stochastics and momentum, and industry bearishness, indicate the next direction for copper is up.
For a more detailed, ongoing update of the Copper Rhino and other futures and commodities, see the Treasure State Futures Charts Section at URL below. Stalk your Rhinos, and other big game, every day at Gold-Eagle: http://www.digisys.net/futures/charts
for The Obsidian Project