Copper (HG) - 11th November 2024 | @ 156 Days | + 5.84%
Last trade: + 5.84% | 'A' class signal detected in High Grade Copper (HG). Running at an average wavelength of 156 days over 16 iterations since January 2018. Currently peaked/moving down
ΣL Cycle Summary
Once again the longer cycle in a dynamic duo of stationary signals for Copper has delivered a decent leg (~ 80 days / ~ 150 days). Being not nearly as high in power as the iteration starting from February this year, this particular installment has still moved up with a similar amount of enthusiasm as the average cycle for this wavelength. Although slightly late to update this wave due to the US election, we have a potential peak in place, likely having occurred late October. Price is due the next trough in early to mid January at the current wavelength so there should be plenty more downside if the underlying trend is also down.
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: Buy - Copper (HG) 19th August 2024
Entry: 19th August 2024 @ 4.1665
Exit: 7th November 2024 @ 4.4100
Gain: 5.84%