t Mid-term cycles in the commodity remain bullish. Shorter cycles are also bullish but while below today’s peak, we expect to see a pull back lower which should prove corrective and result in more upside. Support lies between 96.50 – 97.00

Dr. Copper is following our proposed path perfectly so far. We have seen the bounce that we expected in yesterday’s chart of the day and we expect resistance between 3.23 – 3.25 to cap for continuation lower. Only a break of 3.285 would negate this view.

Metal appears to be in a 7 swing decline from 3.40 peak when rally to 3.28 was wave ( x ). Expect a pullback to hold below this level and another swing lower toward 3.14 – 3.15 region to complete a cycle from 3.40 peak.