Euro, Copper, and China

It looks like QE3 will come from Far East (well, sort of). Rumor is that capital requirements for Chinese lenders are about to be relaxed. But has this been anticipated? Chinese stock market is up 6% from Jan 5th low. This development may already be priced in.
I understand, govt has to reassure investors before one-week shutdown for Chinese New Year, that all will be well in Big Panda Land. After all, it is supposed to be a happy holiday, and a very special Black Water Dragon year. Let's hope that another very rare black water inhabitant does not show up in 2012...

I am tracking a few scenarios in Euro and Copper. Just wanted to share them with you.
In both cases there is an upside bias, but it looks like a retrace within overall downtrend, which is to resume shortly. Perhaps we may see that reversal during Chinese New Year one week vacation.

click on charts to enlarge