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Copper swings sequences calling the rally

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Copper swings sequences calling the rally

Hello fellow traders. In this technical blog were going to take a quick look at the past Elliott Wave charts of Copper published in members area In further text were going to count the swings, explain the short term Elliott Wave view.

Copper Elliott Wave 1 Hour Chart 10.10.2017

As our members know, Copper has had incomplete bullish sequences in larger time frames targeting 3.363 area. Consequently, we advised members to avoid selling and keep buying the dips in 3,7,11 swings. On 9th October Copper has made new short term high that made sequences bullish in the short term cycle as well. With new high we assumed that 9th swing is in progress. That means short term cycle from the 09/22 low is also having incomplete sequences . As of right now, 11th swings up are required to complete proposed cycle.
Were labeling proposed cycle as a Triple Three structure. Second ((x)) connector is counted completed at 3.011 low and were about to complete short term x red pull back. As far as the mentioned level holds, we expect further rally.

Shortly after Copper found buyers , and make further separation from the 3.011 low, eventually breaking above 09/04 peak. Keep in mind market is very dynamic. If youre interested in new Elliott Wave forecasts of Copper you can find them in the membership areaof EWF.

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About the author  (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients.

ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, cycles, proprietary pivot system, we provide precise forecasts with up-to-date analysis for 42 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary actionable trade setups, market overview, 1 Hour, 4 Hour, Daily & weekly wave counts. Weekend webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions.

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