IN spite of Bullish COT Reports - Copper Still seems to be working to kick out the last bear.
While Weekly Momentum is up and Daily Down, Looks like it still has one or two legs down before it moves up.
3 to 3.1 Area Looks interesting. Watch Out for it.
Have Patience and keep a Watch on Daily Momentum
Overall Elliot wave counts on daily time frame.
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However, If you treat trading like a business, it will pay you like a business.
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I am not sebi registered analyst.
My studies are for...
Not much to add to Last Weeks Analysis, except that i have also added Open Interest to the chart.
You can well see that Open Interest is at Record High for Last 7 Years.
In fact it is at all time record high for last 25 Years.
So be Careful. With Bearish COT Commercials and record high OI,
My Bearish call has a solid backing and reasoning