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Copper Cycles Update

August 3, 2017

My gut tells me that copper will likely test the $3 level before its 5-6 month Intermediate cycle tops out. The daily RSI is in the nosebleed section, however, as we are approaching the 3 month mark in its current uptrend.

Nearer term, my Trading Cycle count is a bit cloudy but my preferred count is day 31. We have formed a swing low once again but we did so last week only to move slightly higher.

Given the time copper has spent moving higher (i.e. almost 3 months now), the odds are very high that this Intermediate Cycle will be Right Translated and make a Higher ICL. The next ICL will also be a great spot to add to any miner positions you may have such as RIO, BHP, FCX, etc.

Previous Copper update:

https://surfcity.co/2017/07/28/copper-intermediate-cycle-4/

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Surf City is a pseudonym for a 60-year-old retired Information Technology Executive and Software start-up Entrepreneur living near the beach in California. He has been an active investor and trader since the mid-1980s. Analytical by nature, his sound investments over the years allowed him to retire at a relatively early age of 55. In addition to the standard Technical Analysis tools of Edwards and Magee, Surf is a disciple of Walter Bressert’s Cycle Methodology and Stan Weinstein’s Stage 4 Market analysis. Surf combines these skills to develop his unique “Cycle Price Channels.” Some call them “Surf’s ForkCycles.