- September 26, 2011
- Posted by: Ramki Ramakrishnan
- Category: Copper
I can amend the above quote a little and say “The finest workers in Elliott Wave analysis of Copper is not Goldman Sachs or any other name you choose, but the completion of an extended fifth wave, working with a liberal allowance of time” -Ramki Ramakrishnan
After you have read the link in the quote above, let us take a look at what I wrote back in December 2010. It was a bit ahead of time, because the end came only in February, and reached 462 (some $14 more than the preferred top). But what matters is IT WORKED! Today, we reached the 2nd wave of the extended fifth (at $318) a move of over 30% even from the 448 level. Give it enough time, and we could see Copper reach the prior fourth wave level of one lower degree, and that comes at 272 levels.
PS. SOme of you with sharp eyes would have noticed that I have changed the level where wave 2 was placed back in December 2010. But that does not affect the computation of the target for the extended fifth wave. Of course, you already know that because you have read my book “Five Waves to Financial Freedom” where detailed explanations are given!