Commodity Contest November 28: Copper

Copper has broken out of the monthly wedge pattern.

(Chart courtesy of Tradingview.com)
In Elliott Wave terms, I believe Copper is currently in the wave five or close to the end of the wave five in the daily chart. The wave one started on the August 30, and finished on the September 30. The wave two correction ended on the October 21, and the wave three advance finished on the November 11. The wave four correction ended on the November 15.

(Chart courtesy of Tradingview.com)
Looking at the weekly chart, Copper is most likely in the wave three (sub-wave iii). The wave one started in January, and ended in March. The wave two correction finished in June.

(Chart courtesy of Tradingview.com)
In the monthly chart, I believe Copper is currently in the wave three. The wave one started in the December 2008, and finished in the February 2011. The wave two correction ended in the January 2016.

(Chart courtesy of Tradingview.com)
My alternative monthly chart shows that Copper is currently in the wave C.

(Chart courtesy of Tradingview.com)
Disclosure: I /we have no position in Copper.

If you think this analysis is correct, upvote this post and upvote the comment "Copper will takeout $3".
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