Elliott Wave Live: $HG_F: Is the Copper rally still intact?

Wednesday, May 11, 2011

$HG_F: Is the Copper rally still intact?

The above chart includes the wave count that I was working where I was looking for w.iv circle to complete around the 395-97 area and then the final leg of the Copper rally would unfold according to my previous interpretation where Copper would top at 500.9. That's not what is unfolding. As you can see, price has traded sharply lower and now threatens the count or at least has me pondering whether Copper made a Grand Supercycle top .... w.III circle at 464.95 (in what I was calling w.(3)).

Let's see what unfolds today and I'll update readers in tonight's emini SP update.

I hope you found this information helpful and ....

Best of Trading

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Wednesday, May 11, 2011

$HG_F: Is the Copper rally still intact?

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