Copper (HG)
Date: November 29th,2022
Our mathematical and timing work for Copper (HG) suggests the following.
- We did see an important cyclical top in March of 2022 at $4.99. It appears Copper’s 14 year up cycle topped out at that juncture.
- We have numerous powerful TIME cycle clusters hitting around March of 2023. Let’s say March 15th (+/- 10 trading days). These down cycle TIME turning points are one and the same. They will mark an important bottom in Copper, most likely in March of 2023.
- The TIME between major top cycle in March of 2022 and March of 2023 is rather short. Suggesting it will be a fast moving market. Thus far, it has been.
- Our PRICE calculations suggest two possible bottom areas, one located at around $2.40 (+/- 0.20) and the secondary one at $2.10 (+/- 0.10). It should become clearer which point it is as we get closer. Short-term work will be necessary to narrow all of the above down even more.
- Once the bottom is in, HG should bounce quite a bit.
The forecast above is also consistent with our overall stock market work. If you recall, something breaks in the second half of 2023 and the stock market dives, interest rates surge and so do the commodities (it appears).
