hello,
Below I posted my technical analysis of KGHM with with current quotations for copper futures expiring in September.
According to my analysis, we reached significant levels which are 130 - 131 PLN. The current correction which started on March 17 can be described as an ABC correction where wave C equals 100% of wave A.
In the case when stock finisz the sessions day above 131 PLN and the establishment of a new short-term highs, should take into account the change of describing the current correction.
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| chart 1. technical analysis of KGHM, Daily, 2014-07-28 |
The futures chart, it is clear that copper prices were not able to knock out new highs in the medium-term trend and noted decrease in the regions in which at the moment they are. In the case observed in the Chinese market bubble in the real estate market and as a result the pumping of GDP only thanks to government procurement can conclude that the price does not reach new highs should see lower prices.
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| chart 2. Copper futures, H1, 2014-07-28 |
My DCF Model indicates 91 - 102 PLN with probability of 81-83%.
So, my recommendation now is SHORT with SL 133.30 PLN
best regards,
oscarjp
The information contained in this publication is not intended as an offer or solicitation for the purchase or sale of any financial instrument. Any opinion offered herein reflects oscarjp-chrimatistikos current judgment and may change without notice. Users acknowledge and agree to the fact that, by its very nature, any investment in shares, stock options and similar and assimilated products is characterised by a certain degree of uncertainty and that, consequently, any investment of this nature involves risks for which the user is solely responsible and liable.
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