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Copper an Alternate view

9 Sep 2021 ‚óŹ 03:32 AM

Looking at the strength in base metals in general barring copper, it was worth looking at the hourly chart for an alternate view. What if the fall we say yesterday that made us feel that the rally ended in 3 waves was not so. That congestion wave IV [near 4.21 support] of the rise as seen on hourly charts. We should keep this in mind. If copper does not break the lower end of the channel at 4.17 but instead starts to go higher and breaks out above 4.30 I will presume that wave II ended and wave III toward 4.70 has started. At this point, I will keep the odds open.

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