Forex Analysis & Reviews: Elliott wave analysis of Copper for October 19, 2021

After a temporary correction in wave 4/ copper is on its way towards a new all-time high and a move closer to the next target at 5.07 and 5.76. If Copper takes a moon-shot, we could see Copper aim for 6.88 where wave 5/ will be equal in length to the distance traveled from the start of wave 1/ through to the peak of wave 3/ added to the low of wave 4.

Support is now seen at 4.44 with key support seen at 4.01.

Analysis are provided by InstaForex