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Copper Elliott Wave View: Next Extension Higher May Have StartedHello Traders, In this analysis, we will have a look at the metal Copper in the 1 hour chart. Short-term Elliott Wave view suggests that the pullback to 3.0101 on 5/30/2018 ended blue wave (2). The internals of blue wave (2) unfolded as an Elliott Wave double three structure where red wave W ended at 3.0195 and red wave X ended at 3.1485 high and the decline to 3.0101 low in wave Y of (2). Above from there, the metal has started the next extension higher in blue wave (3). The rally looks to unfolding as an Elliott Wave impulse structure with extension in red wave 3 higher. Up from 3.0101 low, the rally to 3.093 high ended in red wave 1. Afterwards, the pullback to 3.046 low ended in red wave 2 and red wave 3 ended at the peak of 3.3165. Red wave 4 pullback can already ended at 3.2585 low and can now extend higher in red wave 5. As long as Copper stays below red wave 3 peak, a double correction lower in wave 4 can't be ruled out before the metal extends higher again in red wave 5 to complete the 5 waves impulse structure from 3.0101 low within blue wave (3) higher. We don’t like selling the metal and like to stay on the sidelines for now. However, the right side remains to the upside.
COMEX:HG1!Long
by Elliottwave-Forecast
EPA approval & Partnership news within 2017--> very BULLISHAMEX:NAK TSX:NDM FWB:ND3 NAK (Northern dynasty minerals) 100% ownership of the pebble project (pebble mine) the following is just my opinion, you never know what happens :) this month is probably the last chance to jump in. - official EPA approval incoming, with pruitt its a done deal already! just formalities!| latest 14th Nov --> institutions jump in? spike to USD3+ - partnership news incoming, as per mgmt within 2017--> hopefully JV for 50% with an option for the other 50%! Maybe a consortium, and if we are very lucky BO | 50% for USD7 - USD9/ shares | BO USD15+ - permitting process incoming, starting end of 2017 the reason why we will get partnership news within 2017? The company has too little money left for the permitting process, and they already hired these guys: " Senior Vice President of Engineering and Project Director Stephen Hodgson (P. Eng.) will lead Pebble’s engineering and project development team, with responsibility for all aspects of project design, engineering and financial studies and regulatory compliance. He will be supported by Vice President of Permitting James Fueg (PMP, CPG), who assumes responsibility for all aspects of the project’s regulatory permitting team and process , including management of environmental and socioeconomic studies, liaison with federal and state agencies and active management of Pebble’s forthcoming Environmental Impact Statement (“EIS”) process under the National Environmental Policy Act (“NEPA”). " source www.northerndynastyminerals.com - 33m short interest = ~10% --> short squeeze when we hit >USD3-4? - biggest copper, gold, moly, silver mine found on this planet yet! - safe mine design! no cyanide used. source www.northerndynastyminerals.com - metal prices are rising, specially copper. must read: very detailed report about this mine www.docdroid.net
AMEX:NAKLong
by chrisinger
Copper - Bullish PotentialCopper is currently consolidating inside wave B of a corrective wave, which follows the bearish impulse which began in 2011. We expect copper to resume its bullish movement and complete wave C of this cycle over the new few months. The previous bounce off the .786 retracement prints a likely low in the market, and the correction since that time has proceeded exactly as we would expect if this is a low. There exists support in a demand zone at the .618 retracement line, upon which the market is currently skipping and rejecting bearish movement.
COMEX:HG1!Long
by michael.j.macauley
Copper huge long opportunity!If weekly candle closes at 2.67+, the weekly downtrend ( from 2013 !!) will be broken, and with the 4H stoch-rsi turning up, its very possible. The weekly Stoch RSI is also turning back up, so momentum is yet to come. Daily indicators are neutral. Right now, the big resistance area is obviously 2.74. IF we pass this level the algo's will probably pop it to $2.8+ very quick. Copper has been consolidating between $2.5-2.7 for the last 2 months and looks primed for a breakout to $3. Combined with Trump's pledge for more infrastructure and his wall, demand will only go up. Short term, union workers at BHP Escondida, the world's largest copper mine in Chile, are also likely to strike next week over their low pay, which would be a catalyst for the breakout (thru supply disruption). Here is an article about it: www.mining.com Am currently long 5 contracts but might reduce because of possibly scary weekend gap. Good luck :)
COMEX:HG1!Long
by CaffeinatedCryptoo
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