CLIFF NOTES: the key w/ PATTERNS is they enable one to make adjustments, develop gameplans and manage risk. In this case, we have a SELL pattern appearing on FXI. The correlation w/ Copper is pretty high. In our last post we showed the “probability” is HIGH that the Copper will fail the support level at 3.0. If that is the case, THEN the SELL patterns on FXI should work. (remember, every market moment is unique and it’s all probability) However, based on the synchronization shown below there is nothing that should cause a major divergence so let’s see who will win out ….
- Will the FXI bust on thru to the upside and therefore cause support to continue to hold on the Copper? Even though the LONG TERM COUNT shows a convincing argument for a MAJOR 5 waves complete on Copper? Or, will Copper fall below 3.0 and start down enabling the targets shown on FXI to hit and cause selling to resume attacking the 30 support level?
Stand by ..