Copper (HG) - 26th October 2023 | @ 278 Days | - 3.03%
Last trade: - 3.03% | 'C' class signal detected in High Grade Copper (HG). Running at an average wavelength of 278 days over 13 iterations since December 2013. Currently peaking.
ΣL Cycle Summary
Although the next shorter component of any power, around 160 days, is bottoming here along with the excellent component ~ 75 days (to be updated 30th October 2023), this longer wave is peaking. Indeed it is peaking after a bearish to neutral first half of the cycle, which is a weak omen. Power is significant in this case and the general power law that financial market spectra reflects is worth taking into account. This wave has a trough due February 2024 and will likely be the catalyst of downside acceleration, once the shorter waves have exhausted their power in the near term.
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