Copper Futures CFD (HG) Updated

Update 3rd Feb:

Intermediate wave (2) has continued, as far as possible without extending Primary wave [2], during the annual week-long absence of the Chinese market and the concurrent new flu panic.

The 5 year Cycle correction:

From 27th Jan:

Copper appeared to complete Intermediate wave (2) with a media hyped panic-driven thump.

Copper Futures ($US/lb)

The weekly chart indicates that the resources Cycle III that commenced 2016 appears to have completed the Primary wave [2] at the 61.8% retrace of the Primary wave [1]. Accordingly the resources cycle is indicated as entering the Primary wave [3].

Otherwise there is a big problem.

Copper Futures, HG

HG weekly chart has a prospective 3-3-3 pattern for Primary wave [2] and finds the 61.8% retrace with a positive divergence and bounces like a ball of veal.