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Friday, August 12, 2011

Copper - Testing strong support

Copper is currently testing strong support near 392 a close below this level (I expect it will be broken) will confirm a change in the trend from up to down.
If my count is correct we have ended wave B of an Expanded Flat at 461.85 and should at some point see the low of wave at 124.75 be broken. There is of cause always the risk, that a rare running flat is developing, but as said it's rare and shouldn't the first choise.
For now lets have the break below 392 to confirm that the top is in place.

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