Category Archives: Copper – Daily

Copper

The bearish outlook :

After developing the five overlapping waves down in a leading diagonal as wave i, Copper is now correcting up in wave ii.

The broader outlook remains bearish, in anticipated decline of wave iii of (iii) ahead.

Copper - Daily

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Copper

The bearish outlook :

After retracing a Fibonacci 0.5 of the wave (i), in three waves up as wave (ii), Copper may have begun its way down – now in impulsive wave (iii) of c (circled).

Note : I have adjusted wave counting of internal waves on the wave c (circled).

Copper - Daily

Copper

An alternative 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 the corrective wave b(circled), Copper fell down in an impulsive five-waves sequence which now is being completed. Under a bearish alternate view, the ongoing decline from the peak at 329.45 , may be only as an initial subsequent of sequence of an extended wave c(circled).

An explanation on the ongoing subwaves :

On the assumed first wave of sequence of wave c(circled), currently, its fourth wave could has been completed, and its fifth wave has likely begun its way down. An expected Fibonacci target for extreme of the ongoing wave v, could be around the 240.90 level, where establishes an equality ratio between the first and fifth waves of the wave (i).

Copper - Daily

Copper

An alternative 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 the corrective wave b(circled), Copper fell down in an impulsive five-waves sequence which now is being completed. Under a bearish alternate view, the ongoing decline from the peak at 329.45 , may be only as an initial subsequent of sequence of an extended wave c(circled).

An explanation on the ongoing subwaves :

On the assumed first wave of sequence of wave c(circled), currently, its fourth wave has been completed, and its fifth wave has begun its way down. A common Fibonacci target for extreme of the ongoing wave v, could be around the 240.90 level, where establishes an equality ratio between the first and fifth waves of the wave (i).

Copper - Daily

Copper

An alternative 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 the corrective 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 explanation on the ongoing subwaves :

On the assumed first wave of sequence of wave c(circled), its fourth wave could be completed, and its fifth wave has probably begun its way down. A common Fibonacci target for extreme of the ongoing decline, could be around the 240.90 level where establishes an equality ratio between the first and fifth waves of the wave (i).

Copper - Daily

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

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 completing, and its decline of fifth wave is ahead. An estimated Fibonacci target for bottom of the ongoing decline, could be around the 237.60 level where would be established an equality ratio between the first and fifth waves of the wave (i).

Copper - Daily