Based on what i see in /HG copper futures ,
we have entered a corrective period going into July/August period.
We are in a crucial spot. If we break 2.9 to the downside then we officially break the cycle low and entering a negative phase.
If this corrective period manages to stay above that 2.9 then the cycle is still positively configured and we may expect higher highs from copper after July/August .
However , going back more than 10 years always this period we see that /HG is corrective and has a decline .
This decline will give us messages on what to expect further . If this is a H&S formation and we break that cycle low we can easily head to 2.5 by end of July beginning of August in copper (Head and Shoulders measurement).
If we keep above things are better and we are going to new highs .
I think the next few weeks are crucial to see what's going to happen .
we have entered a corrective period going into July/August period.
We are in a crucial spot. If we break 2.9 to the downside then we officially break the cycle low and entering a negative phase.
If this corrective period manages to stay above that 2.9 then the cycle is still positively configured and we may expect higher highs from copper after July/August .
However , going back more than 10 years always this period we see that /HG is corrective and has a decline .
This decline will give us messages on what to expect further . If this is a H&S formation and we break that cycle low we can easily head to 2.5 by end of July beginning of August in copper (Head and Shoulders measurement).
If we keep above things are better and we are going to new highs .
I think the next few weeks are crucial to see what's going to happen .