Copper

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

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