Friday, October 26, 2012

MCX Copper: Elliott Wave count, Channels and RSI

MCX Copper: Elliott Wave count, Channels and RSI

The below article shows how we can combine basic technical analysis along with advanced techniques like Elliott wave theory. MCX Copper shows very clear wave counts and when combined with Channeling technique and RSI gives high probability trading setup.
MCX Copper 60 mins chart:
A few of the wave counts are deleted as it is meant for our paid subscribers of Commodity research report “The Commodity Waves Short term Update” by Waves Strategy ""
We have mentioned in the previous report, “In short, as long as prices move below the resistance of 432 levels our bias is negative. Breach of previous day low of 429 will take prices lower till the next support of 426”. BANG ON
MCX Copper moved as expected. Prices continued the previous day move and moved lower till 424.65 levels, as expected.
Currently prices have arrived near the lower end of the blue channel and inched higher. On intraday basis prices might take support of this channel and it might move higher till ….
To know the missing text and wave counts subscribe to the daily publication “The Commodity Waves” by writing to and get insight into Gold, Silver, Crude and Copper… Trade systematically and not randomly!!!


  1. It is extremely interesting for me to read this blog. Thanks for it. I like such themes and everything that is connected commodity & stock market. Thanks with Regards

    Stock Tips, NIFTY Tips, Commodity Tips

  2. Hello, Firstly thanks to post such a good article. I found it useful because it cleared my confusions about topic what you written. Regards
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