Get to the copper! 🐻🚁

16 juin 2023

The industrial metals market often goes unnoticed by many traders, although some excellent trading opportunities are often to be found here. And with that, we say, "Get to the copper!" For things should get moving here quite soon. The completion of wave (ii) in magenta should be imminent here, the copper price should therefore initiate a bearish trend reversal in our target zone (highlighted in blue) and then indulge in extended sell-offs. Thus, depositing short positions between $3.89 and 3.96 should present an excellent opportunity to profit from the lift-off of the bearish chopper - which is, of course, headed south. We anticipate a significant sell-off before wave (iii) in magenta will at some later point be completed, at which point the bulls are expected to report back.