The rally has turned ferocious, shredding targets and creating new impulse legs on the daily chart with ease. A modest rally to above 3.280 will create yet another, adding weight to the prospect of more upside in the weeks to come. I've projected a minimum target of 3.5545 using an "inverse" pattern as shown. These patterns work some of the time, but I don't recommend initiating trades at their predicted swing points unless the target is corroborated by a stall precisely at the CD midpoint. In this case, that has not occurred.
HGU10
HGU10 – September Copper (Last:3.0365)
– Posted in: Commentary for the Week of March 8 Current Touts Free Rick's PicksAssuming mid-June's high at 3.0675 is not exceeded first, a crucial test of support awaits at 2.8373. That's an important Hidden Pivot midpoint lifted from the weekly chart, and it has the potential to tell us whether Copper has entered a bear market or is instead merely correcting a bull move that had become overextended.
