5-year downtrend led to a Selling Climax, which was followed by and Automatic Rally.
Accumulation period was 1 year.
Spring and Secondary Test followed to start the new rally.
Signs of Strength and LPS combo = rally
"A series of SOS’s and LPS’s is good
evidence that a bottom is in place and Price
Markup has begun."
The rally has started. #BTFD, buy the dips, unload/reload at pull backs at own risk.
Targets: Fib levels displayed on chart.
If fractals play out, it is a slow and steady climb up for the next 2-3 years.
If $copper breaks all resistance levels, it could ignite a an intense move upwards before correcting long term.
Note: Copper leads the way for Gold and Silver (lagging the most). This is the pattern $Silver will eventually show after accumulation.
Copper is used in industrial infrastructure. China is a big player due to economic reasons.
Automotive demand forecast by the International Copper Association: http://copperalliance.org/wordpress/wp-c...
$CCU $Copper $XAG $Silver