Copper - decent correction
A number of factors point towards the possibility of a decent correction for copper (and Emerging markets with it?). The parallel channel, the fib measurements and the relatively straightforward count all suggest to me that there could be a prolonged period of downside here. Not shown on the chart is that Copper has also failed at it's R2 yearly pivot.
Catatan
Decent bounce at the 61.8 fib retracement. Am considering more bullish alternative counts for this.Catatan
Looks like the original analysis of a decent correction is holding sway at this moment although copper is having a bounce at the 23.6 fib correction of 0 - 1. I'm bearish here though and see further to fall. Catatan
Only thing of note here is that the current impulse is the same length as my wave 1.
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