Copper | Cycle Analysis

Cycles TV | June 3 2024

Summary

Copper's short-term cycle indicates a downward movement until mid-June, but long-term cycles suggest an upward trend until early 2025. Technical analysis supports the short-term downward pressure, but a reversal into an upward movement is expected in the second half of June. Confirmation between price action and cycles is needed for a final analysis.

Key Insights

- Short-term cycles indicate a downward movement until mid-June, in alignment with technical sell signals.

- Long-term cycles suggest an upward trend until early 2025, with the current upswing just starting.

- Technical analysis with the cyclic tuned RSI indicates a short-term downward pressure, but not yet triggered an overbought condition for a sell confirmation.

- Weekly cycles need more time to complete the up phase, aligning with the long-term perspective of an upward trend until early 2025.

- Short-term downward pressure is expected until late June, but a reversal into an upward movement is anticipated thereafter.

- Final confirmation between price action and cycles needed to validate the analysis.

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