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Monday, January 31, 2011

Copper - Close to a safe place to sell


Copper is testing the 445-446 area for the third time, at it should be safe to sell this third test for a decline to 441.21 and a break below here confirm that an important top is in place.
If however support at 441.25 protects the downside for a new rally towards the 445-446 area. It would be time to revers from selling copper to a buying strategy as copper then should rally much higher, but for now a selling strategy is warranted.

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