Copper

An explanation on this frame of the Copper’s daily chart :

After completing the bearish leading diagonal wave a(circled), and then its correction in a simple zigzag as wave b(circled), Copper fell down in an impulsive five-waves sequence which is still in progress. Under a bearish alternate view, the ongoing decline may be only as an initial subsequent of sequence c(circled).

An alternative on the ongoing subwaves :

On the assumed first wave of sequence of wave c(circled), its fourth wave is probably be completed, and its decline of fifth wave is ahead. An estimated Fibonacci target for bottom of the ongoing decline, could be around the 240.90 level where would be established an equality ratio between the first and fifth waves of the wave (i).

Copper - Daily

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s