Copper - Is Copper About to Become the New Gold?Copper Linear Mode Hourly/Monthly
With the recent breakdown in gold it seems unlikely to expect appreciation in copper although this chart suggests otherwise.
Is copper about to become the new gold ?
The Monthly chart shows copper has completed a wave 4 pattern at the lower channel as shown.
On the hourly chart prices are currently printing a bullish pattern that will unfold in a larger wave 5 up.
Although there is more than one possibility to label the current structure I believe a breakout of the diagonal will confirm this is in the early stage of a wave three pattern upward. This should be a powerful move up so put it on your radar.
MONTHLY