Friday, March 27, 2015

[COPX] update

Backlink.  Chart from the backlink is below.

Zooming in we see that I am now targeting a low of about $5.50.  IFF this model is going to be correct, we should see very rapid selling here soon because it will be 3 of 5 playing out.  If this has downside then I would expect silver and gold to have a big pullback as well but not necessarily to lower lows.  More than likely they will be some kind of inclining double bottom IMO.  At that point the smart trader will buy with both hands because commodities are going to bottom in 2015 and then have an excellent 2nd half of the year.

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