Friday, October 7, 2011

FCX/Coal

Coal tends to lead the market, but do I remember correctly a margin hike recently?

 FCX 2 min leading neg.

 5 min leading neg.

 10 min leading neg.

 15 min showing accumulation at the bottom and thus far in line trade.

 Same with the 30 min, except the move up in prices was on a negative divergence, I didn't check for support/resistance whether it was a head fake or not-or a bull trap.

Long term 60 min with a long term base and trading in a leading positive divergence. I would watch the $30 area carefully for signs about this and the broader market.

I think I have Carpal Tunnel Syndrome now... LOL

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