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Guest Commentary: Copper Vulnerable for a Pullback

Guest Commentary: Copper Vulnerable for a Pullback

Eric Morera, Technical Strategist

Copper is showing a zig-zag structure from 12.3.2013 low. Metal has already hit ( c ) = ( a) target and now close to testing ( c ) = 1.236 x ( a ) ext at 3.3309. Break of 1 hour trend line would suggest zig-zag structure has completed and leave the metal vulnerable to a 3 wave pull back at least.

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Author: Eric Morera Elliottwave-Forecast.Com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.