Short Term Elliott Wave View in Copper (HG #F) suggests cycle from 4/5/2022 high ended as a 5 waves impulse structure at 4.0372. This impulse wave lower ended wave 1 in red. Wave 2 corrective rally is now in progress as double three Elliott Wave Structure. Rally from wave 1 began the first leg of the double correction. Wave (a) ended at 4.2062 and a pullback in wave (b) ended at 4.1332. Copper then resumed higher in wave (c) and ended at 4.2833 as wave ((w)) in higher degree.
Down from wave ((w)) high on May 17, wave (a) ended at 4.1915 and bounce in wave (b) ended at 4.2309. Then the metal extends lower in wave (c) towards 4.1316 which completed the connector as wave ((x)). Rally from wave ((x)) is a zig zag correction to complete wave ((y)) and wave 2. Wave (a) of ((y)) formed an impulse and ended at 4.3274. Correction in wave (b) ended at 4.2556. Next push higher we are calling an ending diagonal as wave (c) to complete wave ((y)) and the whole structure as wave 2 correction. This last leg higher should complete at 100% – 161.8% Fibonacci extension at 4.3776 – 4.53 where Copper should turn lower again or at least see 3 waves pullback.
Down from wave ((w)) high on May 17, wave (a) ended at 4.1915 and bounce in wave (b) ended at 4.2309. Then the metal extends lower in wave (c) towards 4.1316 which completed the connector as wave ((x)). Rally from wave ((x)) is a zig zag correction to complete wave ((y)) and wave 2. Wave (a) of ((y)) formed an impulse and ended at 4.3274. Correction in wave (b) ended at 4.2556. Next push higher we are calling an ending diagonal as wave (c) to complete wave ((y)) and the whole structure as wave 2 correction. This last leg higher should complete at 100% – 161.8% Fibonacci extension at 4.3776 – 4.53 where Copper should turn lower again or at least see 3 waves pullback.
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这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
