Short Term Copper 'SELLS' heading into Q4 of 2022
I think it's becoming more and more clear that copper sells could extend into the last quarter of the year. Corrective wave 4 seems complete at 0.382 of the second Minor wave count and price is currently in an impulsive bear wave of a lower degree. We should therefore expect Copper prices to plunge to 22.96/LB(-15.4% decline) with some minor bullish price action to around 33.2/LB before eventually finding support at 22.7/LB, representing a -22.42% decline based on the current market price.
As indicated in the chart, this short idea comes into play ONLY WHEN Copper prices drop BELOW 33.35/LB, which is the terminus of the minuette wave 1.
Additionally, I strongly recommend you to review my long term forecast in profile.
Here is a link to my previous Copper forecast.
Disclaimer: The information provided here is only for educational purposes and should NOT be taken as investment advice.
As indicated in the chart, this short idea comes into play ONLY WHEN Copper prices drop BELOW 33.35/LB, which is the terminus of the minuette wave 1.
Additionally, I strongly recommend you to review my long term forecast in profile.
Here is a link to my previous Copper forecast.
Disclaimer: The information provided here is only for educational purposes and should NOT be taken as investment advice.
Disclaimer
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