Copper often leads other markets. That's why the red metal is called Dr. Copper.
Copper continue to follow our forecast to a tee. Here is an updated weekly chart of Copper with the larger Elliott Wave structure:
Source Elliott Wave Technician
As you can see from the long term Elliott Wave structure, copper topped in 2011, and since then, a large decline has been in progress with a target of USD 1 - USD 1.25 area on the chart. We have labeled the end of the wave down as (a) marked with blue colour on the chart.
If Dr. Copper is rigth a large stock market crash will follow the price collapse of Copper.
Geir Solem
Elliott Wave Technician
Copyright (C) all rights reserved
Copper continue to follow our forecast to a tee. Here is an updated weekly chart of Copper with the larger Elliott Wave structure:
Source Elliott Wave Technician
As you can see from the long term Elliott Wave structure, copper topped in 2011, and since then, a large decline has been in progress with a target of USD 1 - USD 1.25 area on the chart. We have labeled the end of the wave down as (a) marked with blue colour on the chart.
If Dr. Copper is rigth a large stock market crash will follow the price collapse of Copper.
Geir Solem
Elliott Wave Technician
Copyright (C) all rights reserved
