Copper entering potential support 2.20

Copper reached my long held target below 2.22 and now waiting for signs of a bottom/reversal for longer term rebound (green wave C)
Confluence of supports at 2.20 zone, channel, c/y=a/w and where wave e (blue) of bigger triangle wave B (green) is 78% Fib retrace of length of wave d (blue) of triangle.
Not confirmed until get a reversal and wave e still has scope for closer to 2 but I would not be short any longer having been short the last 18 months

Kommentera:

Out of short term tactical long at 2.42
Wait for shape and nature of pullback to 2.20 area to consider structural long depending on macro outlook/virus progression

Kommentera:

There is only one more target remaining for the long term C wave higher and that's the all time high around 4.63 which should be reached in coming weeks/few months and given commodities tend to have ENTENDED fifth waves the ultimate top could be much higher.