TradingView
0
All posts from TradingView
TradingView in TradingView,

Copper - A strong impulsive rally towards 2.64 is expected

Copper - A strong impulsive rally towards 2.64 is expected

COPPER FUTURES COMEX:HG1!
EWS

My preferred count shows that copper0.00%% saw an important low in mid-January at 1.9355 and a strong rally higher towards 2.6410 now should be expected.
From the 1.9355 low a nice five wave rally was seen to 2.3235 as wave (i) and wave (ii) was clearly a three wave zig-zag correction that completed at 2.0130.
Wave (iii) started to move higher from 2.0130 in a pretty messy fashion to 2.2775, which I think was and expanded leading diagonal as wave i and was followed by an almost equally messy wave ii down to 2.1330. It now looks as wave ii completed at 2.1330 and wave iii of (iii) higher is ready to develop.
The first strong indication, this is the case, will be a break above the minor channel resistance-line near 2.1945 for a rally higher to 2.2775 on the way higher to 2.38 and 2.64.