4 Mar 2021 ● 02:41 PM
The sharp intraday move in copper requires a slight change in the wave structure. The fall as ABC and a zigzag typically seen in 2nd waves. The wave II of 3 is completing and III of 3 up should start. While wave 3 and 1 would have achieved equality near $ 4.6, it looks more likely that wave 3 is going to be extended where III of 3 will achieve equality to its 1st wave at $ 4.9. The exponential moving copper may be surprising but this is the factor that is developing and a very strong trend nothing like what we've seen in a long time. Inside wave II c=a is at 3.91 and we need to watch that that low does not break meaningfully for this pattern to remain intact.