Copper Deep Analysis

 DONT TRADE BASED ON THIS, WILL UPDATE YOU ONCE I CONFIRM. IF ANYBODY WANTS TO TRY THIS CALL STRICT SL 426. TRADE AT YOUR RISK.


Based on my Daily Chart analysis,
Support 391.80.
Resistance:  439.40.

I am taking 391.80 as the start of  Wave A. If so,
Wave A started at 391.80 and ended at 439.40.
Wave B started at 439.40.

 Wave B, retracement levels are:
428.3, 421.35, 415.75, 410.1, 406, 402.2, 391.8(100%).

Wave B will have 3 waves (a,b,c).
From this chart, Wave B(a) (414.45) and wave  B(b) (432.70) completed.

Next comes wave B(c). Wave B(c) will have 1-2-3-4-5 waves on the down side.
Based on wave B(a), wave B(c) minimum targets are: 414.45, 408.55, 405, 399.1.


Lets go deep into wave B(c)
In Wave B(c) we have already completed waves 1 and 2.
1 at 421.25
2 at 425.70

Based on wave B(c)-1, wave B(c)-3 minimum targets are: 421.25, 418.6, 417, [[414.45-414.2]].

Wave B(c)3-2 retracements are:419.60, 420.70, 421.74, 422.6, 423.35, 425.70(100%).

As of now 420.75 already done. Minimum retracements 419.60, 420.75 done.

 Any reversal from the levels given above, we will see 417.70 first.



The 3rd wave will be the longest wave based on wave theory.
And now, any reversal will start as wave 3 of 3 which will be longest. So, I expect more fall in next down move.

Let us see how this is going to be unfolded.