An explanation on these frames of Copper’s intra-day chart :
After an impulsive five-waves sequence down as wave iii, Copper has completed wave iv in a zigzag correction [ impulsive wave A – triangle wave B – ending diagonal wave C ].
Currently, an impulsive five-waves down, as the wave 1(circled), then its correction in an expected flat as wave 2(circled), were completed. And decline of impulsive third wave of the wave v, has begun its way down, just as the expected.
Fibonacci targeting :
An initial target is 248.75 on the Fibonacci 1.618 expansion level, as extreme point of wave 3(circled) of wave v.
The ultimate target for extreme of the ongoing wave v, could be around the 240.90, where establishes an equality ratio between the waves v and i .