- May 1, 2012
- Posted by: Ramki Ramakrishnan
- Category: Copper
So you are looking for a medium term outlook for copper! After my last Elliott Wave comments that was posted on 26 September, 2011, we didn’t revist the copper charts. I am sorry for the long delay, but I hope today’s comments make you happy!
A five wave move was completed on Feb 20, 2011 at 462.55. Have we corrected that adequately? Probably not. I think the dip to $300 marked the first step down, and we will likely get abother go at that later on. Keep an eye on what happens around 415. Once we move to that level (or beyond), any subsequent dip below $371 would confirm this view. But it should be possible to figure out the end point of the ‘c’ wave and get short near that top. “C” waves are always made up of 5 smaller waves, and the methods of anticipating the end of the 5th wave has been explained in my book in detail.