March Copper Futures
I wrote an article last week discussing my views on the copper market. I stand by what I said in stating that this copper run stemming from the lows in early 2016 is close to running its course. That being said I believe it has one more gasp higher before the luster wears off. Today’s low I contend marks the 2nd wave extreme of the terminating 5 wave structured advance marking the final sequence of the C wave of an A-B-C advance. I’ve gonna back and studied time cycle and proportional relationships both suggesting an advance to any where from 3.5 to 3.6 with a chance of an overthrow of the geometric angle to +/-3.70. Another thing of interest is what you discover when you blend monthly straddle projections along with the measurable ATR reading. All this points to an upper target zone for what I am proposing to be the subset impulsive 3rd wave of the final sequence. This would project to +/- 3.50 before an non-impulsive 4th wave unfolds. This pullback coming in approximately the end of March should ultimately give wave the terminating leg up. Overhead extreme considering that the 4th pullback holds above 3.255 should sniff out the 3.70 area. Please feel free to contact me to discuss suggested options and futures strategies to capitalize should this scenario play out.
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