Expect Copper to Stampede Again

By all means, US Copper and the linked Copper Stocks were clearly high-ranking within the hottest sectors of 2021. Copper is just dissolving upwards a two month pullback period and is now expected to rally more into the end of this year. With corresponding consequences for the Copper Stocks as well.

Today’s issue replies to the question how long the current copper bull market might continue, which heights it should have to climb at the minimum resp. where its next interim targets according time and price are supposed to be:

A 2-month pullback cycle which started at the alltime-highs of May 2021 is over. The last test of the dark-green dotted major bull market support line at this week lows resulted in a next important higher bull market low what in the end led to the red-dashed alltime-high resistance line being clearly overcome on a weekly closing base.

This is the next massive chart technical buy signal and together with the weekly momentum oscillators which have turned back to full-bull along with the price, we have now received the clear signal that the alltime-high (ATH) environment at 4.888$ must be seriously retested next and soon. This as a minimum price target. GUNNER24 however shows us more. Much more, because it sees quite far into the future!

To begin todays forecast, let’s have a look at the bull market that began at the Final 2016 Bear Market Low. I think, at present the 14 Candle GUNNER24 Up Setup positioned in the monthly chart below nails down the US Copper bull market best. But there is another valid monthly GUNNER24 Up Setup which works fine ...:

2016 to 2017 bull market rise was oriented to the rising 2*1 Angle and this first bull market wave topped at 1st double arc surroundings which afterwards radiated yearslong double arc resistance energy what ended at famous coronavirus-panic lows of March 2020. There at # 1-March 2020 low highlighted by long-red oval a small, but decisive higher bull market low is printed what triggered a long, unusual steep second bull market wave what with the current July 2021 candle has now arrived at its 17th month candle.

The at # 1-March 2020 lows started bull market got an extra-boost after the 1*1 Gann Angle out of Final 2016 Bear Market Low was finally overcome towards end of 2020 into the beginning of 2021, after price tested this rising big, big natural important angle resistance for 3 long months at the 3 higher red-resistance arrows. This year low arrived there at the 1*1 Gann Angle, former main bull market resistance, now 1*1 Bull Market Angle. Cause 2021 low is at 1*1 Bull Market Angle this 1*1 is a heavy-confirmed rising support on yearly base. A future MAJOR yearly support on yearly closing and also on yearly opening base!

The longest = strongest month candle of the bull run is the Feb21 candle which turned out so long because in this month the former 1*1 Gann Angle resistance was overcome finally and this event released enormous bull energies in one fell swoop.

At Feb21 & Mar21 candles the lower line of 3rd double arc, former natural GUNNER24 Bull Market uptarget, was finally worked off and by these month highs became confirmed important rail for the price.

And finally, with the official May21 candle close, the US Copper futures continuous contract fired another major buy signal on the monthly chart as this candle closed far above the 3rd double arc what was confirmed double arc resistance on a monthly base.

This May21 candle delivered current bull market high, at same time ATH at a 4.888$, and perhaps the brightest shining sustainable buy signal and MAJOR bull market continuation signal = the highest monthly closing price ever achieved by US Copper!

The pullback starting at May21-ATH successfully tested back the lower line of 3rd double arc from above at Jun21 & Jul21 lows and this monthly support rail held nicely, triggered fresh bull power on the monthly chart, and together with this week bullish breakout buy signal the bull market month # 17-Jul21 is now back above the upper line of 3rd double arc resistance and this is next official GUNNER24 Buy Candle on monthly base what again confirmes that the lower line of 4th double arc should be the/a main target magnet for the still underway bull market!

By # 15-May21 close decisively above the upper line of 3rd this lower line of 4th got activated next important bull market uptarget on monthly base and in the meantime it looks like that the lower line of 4th together with the next due important time line and the 21-Fib number time magnet must be aimed sometime in course of November 2021, as there forms the next major combined price/time upmagnet what is the 5.20$, perhaps very due for the bull market month # 21-November 2021.

Or...: US Copper made final low of the year 2021 very early in the year at 1*1 Bull Market Angle = main magnet. With recent developments, we recognize that the final high of this year, with an unusual high probably should arrive towards the end of 2021 at/near lower line of 4th double arc uptarget. What promises a might-bull year 2021 candle for US Copper is in the making, with final low made early and first and final highs made last!