copper towards new 52 weeks high in 2024?
The commodity has been in a corrective phase well from the beginning of 2023 which now seems to be coming to an end. This could mean new 52 week high for the commodity by early 2024.
in terms of Elliot wave structure the stock is currently in wave ii of wave 3. The up move to be looking forward to would be the wave-iii-3 which could well take the commodity price to 4.65-4.67 from the current levels.
on the downside the sept 2022 low of 3.24 should hold and not be breached for the analysis to hold.
note*- this is an educational post only
in terms of Elliot wave structure the stock is currently in wave ii of wave 3. The up move to be looking forward to would be the wave-iii-3 which could well take the commodity price to 4.65-4.67 from the current levels.
on the downside the sept 2022 low of 3.24 should hold and not be breached for the analysis to hold.
note*- this is an educational post only