Monday, August 24, 2015

Dr. Copper Say Stock Market Collapse Coming

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
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