Copper is in lengthy down trend.
From a strong down wave 1, it has formed a complex corrective patterns.
Right after wave 1, an almost symmetrical triangle formed and completed.
This was not followed by an impulse wave 3; rather another correction occurred in a zig-zag a-b-c.
Zig zag wave c had completed. The zig-zag pattern thus became a higher order corrective wave X.
Corrective wave X follows the trend.
Now corrective wave Y needs to follow from corrective wave X to at least complete the complex correction, and from there the down trend, that is, the impulse wave 3 may happen.
Overall, copper is bearish on technical analysis, consistent with global demand and supply situation.
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