Copper Futures Maintain Bullish Trajectory Amid Near-Term Correction

Copper futures (HG #F) are maintaining an upward trajectory as they continue to trade within a bullish Elliott Wave structure. The current rally remains constructive, indicating that buyers are still in control of the market.

According to the 60-minute Elliott Wave chart, Copper is advancing within black wave ((iii)). A push toward $6.858 should complete the current five-wave impulsive sequence in wave ((iii)). Once this move finishes, a corrective pullback in at least three swings as part of wave ((iv)) is expected.

This pullback should present another buying opportunity, provided it remains above the $6.479 swing low and, more importantly, above the $6.2820 invalidation level. Looking beyond the near-term correction, the higher-timeframe Elliott Wave count continues to point higher, with a target of $6.981 representing the equal legs target for red wave 1 within wave 3.

Our Copper Elliott Wave forecast remains bullish, and any pullback in the coming hours is expected to find support in 3, 7, or 11 swings, keeping the broader trend intact. Until key support levels break, traders should continue to favor buying pullbacks, with $6.981 remaining the next major upside objective.