Copper Analysis 2012-04-19

http://i39.tinypic.com/29xtcah.jpg

At any given time the price of anything can go in 1 of 3 directions, UP, DOWN or SIDEWAYS.

Copper has found an area of support at 3.60. If this area of support holds strong, then we may get another chance at making new highs. if she breaks this support, the next area of support would be at 3.25.

Lesson: I am sure not many here are used to looking at charts so here is a lesson for the followers. This is a daily chart, which means each candle or bar represents one day of activity. The Red bars mean that the price closed lower than it opened, and the opposite is true for black and white ones. This chart has daily bars that goes back to October, thus there is 6 months worth of data.

If you ask me it's not looking good as of now, it is below the 50 and 200 day, you are right that it has found support, but it is trending downwards...Hard to call the bottom right now I'm def not going to hold onto my coppper.

Selling what I got worked up this morning.