Following up on my previous posts of Copper & HSI, both charts’ long term falling resistances have shown remarkable guidance. Copper today got rejected right at the moment it hit its falling trendline, thus continuing to form its right shoulder. It already had warning signs earlier in the day via an hourly rising wedge. HSI as well went above its resistance intraday & reversed strongly back into the triangle.
As long as these 2 key assets remain within their big triangles, the markets don’t have any proper long term direction. I believe they’re both waiting for the SNP500 to break down from its rising wedge, or scale new multi decade highs and break its long term triple top resistance, and my view is the former.