Copper Cycles Update

August 3, 2017

My gut tells me that copper will likely test the $3 level before its 5-6 month Intermediate cycle tops out. The daily RSI is in the nosebleed section, however, as we are approaching the 3 month mark in its current uptrend.

Nearer term, my Trading Cycle count is a bit cloudy but my preferred count is day 31.  We have formed a swing low once again but we did so last week only to move slightly higher.

Given the time copper has spent moving higher (i.e. almost 3 months now), the odds are very high that this Intermediate Cycle will be Right Translated and make a Higher ICL. The next ICL will also be a great spot to add to any miner positions you may have such as RIO, BHP, FCX, etc.

Previous Copper update:


The melting point for silver is 961.93 °C - 1235.08 °K

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