Technical Analysis: Long-term uptrend still dominant

摘要

At the time of the last analysis on 5 October, we stated that a near-term downward move was likely,and a break below $1,660/t would likely result in a move down to $1,625/t. We also stated that ifsupport was found after a near-term drop, then a test of the upper range at $1,680/t would be likely,and a break above would test the long-term downtrend. We noted that a break above this level wouldlikely result in a move up to $1,735/t. This analysis proved to be very accurate.