As we have seen previously , The market is still within the range and is due for an impulse. The question is in which direction could we see the impulse getting triggered. from my analysis of Elliott wave it seems like an upward impulse being due.
Since Copper is in a consolidation , A Break out or breakdown from the support / resistance trendlines could trigger an impulse move on those sides respectively.
With resistance around - 712 - 714
With Support around - 702 - 700
Natural gas has been in a consolidation for a long time in its year long support zone and is awaiting a good impulse move on either sides. Kindly add this to watchlist and see how the pattern turns out.
Over the past few sessions we could see the kind of impact the consolidation patterns have on silver , gold and even in Natural gas to some extent . Now the same appears in the pattern again . Make sure to observe their behavior once there's a breakout / breakdown .
This sideways move in silver as of now indicates exhaustion on the bullish side although the economic data still supports the bullion . Thus one shall make use of the S&R to either trade within the range or shall make use of the breakouts from here