Idea for Copper: - Commodities Cycle is topped out. - Copper in Trade and Trend Distribution patterns. - Clear 5 wave Impulse completed. - Re-tested resistance and rejected. - Price will bleed out to complete the Head & Shoulders then capitulate.
TP1: 3.44 very likely. TP2: 2.78 PT: 1.97
Global markets are not moving back into Goldilocks, no matter what the media is blaring. Reflation Overshoot Trade is over. Exposure should be given to Stagflation and Deflation trades.
GLHF - DPT
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As expected, copper creates another exhaustion gap. Another S1 sell signal.