From TradingView · · 1m
Copper futures may have topped after five-wave rally
A technical analyst sees signs that copper's upward move is complete and suggests a short position.
In brief
A technical analyst sees signs that copper's upward move is complete and suggests a short position. Copper futures may have completed a five-wave upward pattern, suggesting a potential reversal and shorting opportunity. Originally reported by TradingView.
Copper futures under analysis
Technical analyst yossarian121 examines weekly wave patterns on COMEX copper futures to identify potential trading opportunities.
Five-wave rally may be complete
The analyst identifies a possible completed five-wave upward pattern in copper prices, suggesting the recent rally has run its course.
“Possible that a 5 wave up is done on copper”
Short position recommended
Based on the wave count analysis, the analyst suggests selling copper futures with protective stops placed at recent price highs.
“Sell with stops at recent highs”
Risk management through stops
The trading strategy includes placing stop-loss orders at recent highs to limit potential losses if the analysis proves incorrect.
Not financial advice
TradingView emphasizes this analysis is for educational purposes and does not constitute financial or investment advice.
The main idea
Copper futures may have completed a five-wave upward pattern, suggesting a potential reversal and shorting opportunity.
