Copper Price Cycles Update
Commodities / Gold and Silver 2017 Aug 03, 2017 - 02:12 PM GMTBy: SurfCity
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.
By Surf City
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© 2017 Surf City - All Rights Reserved
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