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FreeWeek Continues: Pot Of Copper At The End Of The Commodity Rainbow
EWI's ongoing Futures Junctures Service FreeWeek presents a special, free case study on copper
By Nico Isaac
Thu, 17 Mar 2011 15:00:00 ET
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Today (March 17) people all across the globe will celebrate St. Patrick's Day with pints of green-colored beer, shamrocks, and tall tales of little men keeping guard over pots of gold at the end of rainbows.
 
At Elliott Wave International, our celebration will be in honor of one man who has been keeping his eyes glued to the long-term trend underway in the "pot" of copper at the end of the commodity rainbow. That man is EWI's chief commodity analyst and long-time Futures Junctures Service editor Jeffrey Kennedy. (You get his copper analysis free; details below.)
 
Jeffrey began his watch over copper in the January 2011 Monthly Futures Junctures. At the time, the speculative fervor surrounding the metals' rally to record highs had reached a boil -- and they've have only intensified since. Here, the recent news items below capture the red-metal fever:
  • "Copper In A 'Perfect Storm' For Bulls." (Bloomberg)
  • "Copper Rises To Record. We expect the copper bull run to continue with further big increases in prices." (Financial Times)
  • "No End In Sight For Copper Demand... copper has become the consensus 'bull call.' " (Associated Press)
Yet, while the majority of mainstream experts agree that copper will continue higher, "fundamental" analysis does not enable them to anticipate just how high prices may fly. That is the number one limitation of any strategy that waits to act on news external to the market.
 
In the January 2011 Monthly Futures Junctures "Featured Market" segment on copper, however, Jeffrey Kennedy uses the internal measures of Elliott wave structure and Fibonacci price targets to provide a clear and objective blueprint of the metal's future price targets -- including the compelling chart and commentary below:
 
"Copper is currently tracing out a fifth wave advance of a larger five wave structure that began in 2008. With respect to an ultimate goal for the rally, the Fibonacci objective... not only represents psychological resistance, but it is also where wave 5 will equal the distance traveled in waves 1 through 3, a common fifth wave objective."
 
 
The best part is, you can see this entire case study on copper at the unbeatable cost of $0.00. This amazing offer is part of EWI's Futures Junctures Free Week, now underway until mid-day March 23. The luck of the Irish is upon you -- as the good fortune of Free Week provides all Club EWI members and existing subscribers back-door access to both Futures Junctures Service publications: Monthly Futures Junctures and Daily Futures Junctures.
 
 

Tags: copper futures, Daily Futures Junctures, Elliott Wave trading, Fibonacci, Jeffrey Kennedy
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