John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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roguedolphin

The Ox

To: The Ox who wrote (19760)	8/16/2017 9:44:24 PM
From: John Pitera	2 Recommendations Read Replies (1) of 33421

DR COPPER at an important juncture... and daily USD looking like an upward correction since the low on 08/02/17 at 92.39.... I'll be showing the EUR and JPY later. Daily chart amazing how the 1.1618 fractal projection advance is in perfect alignment with the .618 fractal advance from an additional up wave,( both at $2.82 ) and notice how we are at 1.618 fractal price projection from the mid June to early July... 18 month daily chart with FIBS...... the 10 year Week Copper Chart with FIBS we are at a cluster of 2 different FIB time periods. Money flow is looking strong...... lt easy to believe there could be technical selling here.... but the thing about bull markets is that you don't pick tops.... as this is not a bull market top in my mind. Let's see how the price reacts ... and it's gonna be party time central for the bulls if we break through all these resistance levels we are at...... The 40 year monthly chart is amazing. The 40 year Monthly Copper chart with Fibs shows the real primary one retracement zone is $3.09 although we are at a weaker resistance here at 2.95......but we've traded up to $2.9811 tonight..... It's amazing all these different Fibs levels ..... I'm moving to reduce the long side a little but right now we could well see us break $3.000 on a trek higher.... We shall let price action be the AX ... as it always is.. The daily USD index has the distinct look of an upward corrective price advance since 08-02-17 low at 92.39 The USD index has been getting resistance at some Fib resistance points. JP

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