Wed. 5_23

Just a quick chart update on Crude and Copper being that I haven't posted a chart of either in a while.
Both below their 200-day Moving Average's and both sitting within Fib. retracement zones.

Crude has been in this persistent selling channel for 13-days already (as though waiting for a catalyst to break out in either direction).

Copper - has a 50% Fib. projection which aligns with its 61.8% retracement level right around the $3.38-$3.4 area.  The moving averages sure seem to be setting up in a bearish orientation.

Copper update

I posted a 240-min chart of Copper last week with the anticipation of the 3d setup occurring.  Follow this link.
Here is how it played out.

And on split time frames

A break above 3.9460 could get interesting

HG 3d

A good example of the 3d setup in Copper today:

Price is pulling back after filling an open gap left back in September last year.  The 2c criteria which is currently showing means that this pullback (and resulting reverse divergence) will be a buyable dip.

Perhaps watch for the 3d setup on this 240-min chart