Copper Price Commodity Market: Technical Analysis
After starting the bullish impulse C LME Copper is building a bearish correction on 2-Day chart which may turn out one of the following options:
- a small correction subwave within the impulse C wave on 2-Day chart – wait while C wave will renew
- a deeper 4th correction wave of 2-Day scale that will be followed by some 5th bullish impulse on 2-Day chart
- a new A bearish wave of an older time frame
Waves of 2-Day chart are drawn with violet lines.
On the smaller 8-Hour chart the current bearish correction looks like a B correction wave (drawn with a chocolate line) to be followed by a bullish C impulse within the major C constructed on 2-Hour chart.