Copper - Look for a bottom between 2.01 - 1.98

Copper - Look for a bottom between 2.01 - 1.98

Copper - The right shoulder of a major Inverse S/H/S bottom is closer to bottoming out

Copper - Look for a bottom between 2.01 - 1.98

Copper has been hit hard this week due to large increases in the LME copper stockpiles, should we be worried? I don't think so. The Elliott wave count tells us that the three month correction from mid-March is close to terminating, with the ideal downside target seen at 1,98 from where a new impulsive rally to above 2.23 should be expected for a rally towards the 38.2% corrective target at 2.97. 

The first good indication of a bottom being in place, will be a break above 2.054, while a break above 2.09 will confirm the bottom for the next impulsive rally much higher. 

When a 1+ is highlighted in the right hand corner, more charts is available, in this chart-pack 3 charts can been seen. To see the other charts, click on the chart, which blows it up and in the center part at the bottom a control panel will be highlighted. Use the arrow to see the additional charts. 

Duane
2018-03-03
Hey EWS,

I just wanted to thank you for posting your charts. They are of great help to me. Your charts are a great teaching aid for learning Elliott Wave.

Duane
Hani
2014-06-06
I have been a fan of you blog for several years!
I am so impressed at your renewal.
Elliott wave analysis is so difficult to me, but so interesting and useful.

Thank you
Hani
Jonathan
2017-10-24
Your work is exceptional and glad I found you.