COPPER UPDATE

  Copper has acheived almost 50% retracement level  as suggested in the previous posts.  Further move depends upon the key levels marked on the chart.  Dominant view is downwards as sugggested previously.

Happy Trading !

SHEKHAR

COPPER ELLIOT WAVE ANALYSIS

Presently copper is in Wave C.  Wave C has already extended more than 1.618 times of W:A  next target could be  the Fibo extension A*2.618  which is around 2.460. 


Looking closely into the wave C . It has completed W C:3  and presently W C:4 is running which is likley to retrace min of 38.2 and could be a complex wave as W C:2 was simple which  has retraced almost 61.8%. 


 As W C:3 is extended   Golden section suggests  Wave C:5 likely to end at 2.599.

As of now  correction is under way one can keep a close eye on levels between   3.585 to 3.949,  where a very good short possibility exists.


Also please see a Wolve Wave Running in  Wave 4 ( 60 min TF). Suggesting a possible TGT of W C:4  where shorts can be initiated.

Happy Trading !

SHEKHAR