Alex Borzak
⬤ Copper has reversed higher after finishing a three-wave pullback from its January 29 peak. The chart shows price hitting a clear extreme zone before flipping direction- smart money spotted the bottom and jumped in. This reaction signals the correction is done and copper's ready to push higher again.
⬤ The decline played out as a structured three-swing pattern, not a breakdown. Price bounced right off the key support level and hasn't looked back since. That's textbook corrective behavior, not a trend reversal. As one analyst noted: "The reaction from this zone confirms the correction phase has concluded - we're seeing a shift back into advancing mode."
⬤ Copper's now climbing from that low, with the wave structure pointing to more upside ahead. The London update makes it clear - don't fight this move. The recovery's building momentum within a solid technical setup, and there's been no break below the invalidation level. That's your confirmation the market's back in rally mode.
⬤ This matters beyond just copper traders. The metal's a proxy for industrial demand and economic health. When copper completes a correction and turns higher from a technical sweet spot, it sends ripples through base metals markets. All eyes are now on whether copper can hold this momentum and deliver follow-through in upcoming sessions.
Alex Borzak
