COPPER LOOKS BEARISH ON INTRA-DAY - Elliott wave

We are tracking a big impulse to the downside, from the 4.58 lvl. on COPPER. Red waves 1 and 2 are completed, so current price action from 26th of January can be a big wave 3 in the making, with its five-wave substructure, and can target the Fib. ratio of 1.618, where support can be seen.

Intra-day price activity suggests a minor correction in action (iv), which can look for resistance at the fib. ratio of 0.382/0.5, from where a final leg lower for a sub-wave iii of 3 may show up.