An explanation of the ongoing sequence on the weekly chart :

In a bearish view on this frame of weekly chart, it appears that on the W-X-Y  formation as a possible “Double Zigzag” on sequence (B), the ongoing wave Y  could still be extended to lower lows.

Fibonacci targeting :

A fibo-expansion target for extreme of an extended wave c(circled) of the wave Y, could be around the 149.45 level where would be established a ratio of 1.618 with the leading diagonal wave a(circled).

Copper - Weekly


Leave a Reply

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

You are commenting using your 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