Copper (HG) - 19th August 2024 | @ 158 Days | + 15.74%
Last trade: + 15.74% | 'A' class signal detected in High Grade Copper (HG). Running at an average wavelength of 158 days over 16 iterations since January 2018. Currently troughing
ΣL Cycle Summary
Here the larger of the two dominant medium term waves in Copper (@ ~ 75/150 days) has printed an overall neutral iteration, providing excellent swings to the upside and downside with high amplitude, relative to the past and during the period March to July 2024. The latest downswing is likely complete with the next peak due at the end of October at the current wavelength (+- margin of error provided below). The smaller wave (@ ~ 75 days) has been crushed by the power of this component through July and we should anticipate continued power from this cycle to influence price action.
Trade Update
Summary of the most recent trade enacted with this signal and according to the time prediction detailed in the previous report for this instrument, linked below.
Type: Early Sell - Copper (HG) 14th May 2024
Entry: 14th May 2024 @ 4.9535
Exit: 19th August 2024 @ 4.1730
Gain: 15.76%