Copper Short Term Elliott Wave Update 9.12.2015

Rally from wave (W) low at 2.209 is unfolding in double corrective structure WXY where wave W ended at 2.418, wave X ended at 2.3053, and wave Y of (X) is in progress towards 2.516 – 2.64 area before turning lower at least in 3 waves. Short term, metal is still in wave ((x)) and could test 2.414 – 2.378 area before it turned higher in wave ((y)) provided the pivot at 2.3053 low remained intact. Ideally next push higher should take us toward 2.516 – 2.638 area. We don’t like selling the metal as yet.

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