Rio Tinto chief Sees no Copper Price Reversal – Binary Options Hot Picks Feb 14
Market Update: Rio Tinto PLC CEO Tom Albanese forecast continued volatility in iron ore prices, but said extra supply coming on line starting in 2013 should stabilize the market in the future.
The London FTSE 100 index bounced after nearing the 50-day-SMA as we expected. Now several options are possible. We can expect either a range to build between the support at the 50-day-SMA and the 6100 resistance level, or continued strength through the 6100 level. This resistance level is very significant and a break would lead much higher. We will look to the U.S. markets for a hint of a break.
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How to trade this asset using hourly Binary Options:
Look for trends that emerge from breaks through the support and resistance levels mentioned above, or trends that emerge if the asset stays within the current range.
