Copper futures 2017-11-05

Up until the middle of next last month, I had been treating the rise in copper as a deep wave four but I am promoting the alternate to primary, an initial impulse up from the early 2016 low. That does not mean that I changed my mind about this advance ending, but that I have thrown in the towel on expecting a new low on a turn lower.

Copper futures 2017-08-12

I just can’t get excited about this move up in copper as being the start of a major break higher. Instead, I still see this as the calm before the storm. Primary count is this being a wave (iv). I’ve marked the zone of overlap where wave (iv) would be invalidated. I can tolerate a brief spike into that zone but not a close.

Copper futures 2017-06-24

I'm skeptical that copper has found a lasting low but has yet to drop impulsively from resistance tested earlier this year. Prices have fallen from the channel and other resistance from February but have yet to drop down under 2.50 for long which certainly makes it...

Copper futures 2017-05-29

The copper bounce up from early 2016 has stalled out at the top of a channel and leaking lower for the past few months. I am working under the assumption that February 2017 is the end of a correction and now in the early stages of a decline to what will eventually be...

Copper futures 2017-05-14

The 2016 bounce in copper ran into resistance from various channeling techniques early this year and has been drifting lower since. I remain skeptical that a significant low has be set in copper, this may be the early stages of a move down over the next couple years...

Copper futures 2017-01-21

Copper has yet to break the multi year down trend and thus not yet signaling a more bullish macro outlook. Here are two monthly charts which have two different channeling techniques applied to them. Thus far the regression channel is setting the highs on each bar but...

Copper futures 2017-01-02

Copper has been in a persistent down trend since early 2011. While there has been a sharp rise in November of 2016, the down trend is still intact and therefore should be open to yet another low over then next year or two. The channel on the monthly chart could...