copper price, page-18

A couple of recent quotes on Elliott wave analysis on the copper price by DailyFX:
August 20, 2018
ELLIOTT WAVE COPPER TALKING POINTS:

• Current Elliott Wave for copper is wave 2 of a larger bullish impulse wave
• Alternate counts for copper prices suggest the downward correction may linger on but hold above the 2016 low
• Multiple Elliott Wave patterns target 4.10 and possibly higher levels over the long term in copper

For the past two months, copper prices have been falling hard down nearly 20% since the beginning of June 2018. With the effects of trade wars creating waves through the market, the higher probability move according to Elliott Wave theory is for support to emerge soon pushing copper prices towards 4.10.

August 20,2018

COPPER PRICES DIP BUT STILL HOLD ABOVE KEY LEVELS
It has been a couple weeks since our previous copper price forecast, but so far, the outlook is playing out. On July 31, we suggested how the Elliott Wave analysis for copper prices suggests the weakness may be temporary.
Copper prices appear to have bottomed, at least temporarily at 2.55 on August 15. Once we identify a bullish pattern, then we can confirm a longer-term rally may be underway.