Copper

Copper prices have pullback, bringing the RSI back below 70 and out of the overbought zone. In terms of wave count we are in the 3rd wave started in October and wave 3 and 1 would be equal close to 4.50. Prices are also in the rising channel and the top end of the channel is at 4.67 and rising. In terms of wave structure wave V of 3 up should be the final leg of this phase before we get some consolidation again in wave 4.