Copper Elliott Wave Analysis: Big Picture Structure Through 2026
Why It Matters
Copper’s price trajectory drives costs for construction, electronics, and renewable‑energy projects, so confirming a bullish wave could reshape supply‑chain budgeting and investment strategies.
Key Takeaways
- •Copper futures outpace gold, showing stronger upward momentum
- •Analysts expect a completed wave‑four bottom within $5.34‑$4.74 range
- •If support holds, price could rally toward $7.70 target
- •Wave‑B correction may dip to $4.70 without breaking probability
- •Short‑term upside requires copper to stay above $5.39 level
Summary
The video provides an Elliott‑wave outlook for copper futures, arguing that the market has likely completed its wave‑four correction and is poised for a new upward leg that could extend through 2026.
Using Fibonacci analysis, the presenter identifies a critical support corridor between $5.34 and $4.74 per pound. Holding that zone would validate an ABC impulse, with the next leg (wave C) targeting roughly $7.70. The B‑wave correction could still test lows near $4.70, but the probability of a deeper decline remains limited.
Key price markers mentioned include a $5.39 level that must stay intact for short‑term upside, and the observation that copper’s price action is currently more aggressive than gold or silver. The analyst notes that micro‑structures are ambiguous, yet the broader wave pattern is clear.
If the support holds, traders may position for a multi‑year rally, influencing industrial buyers and speculative funds. Conversely, a breach below $4.74 could trigger a renewed downtrend, reshaping risk assessments across commodities portfolios.
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