If you have been watching the commodities market and dollar with surprise you are new to Indiacharts and not an Insider. Clearly the call for the last twelve months was that prices would rise eventually. Starting from 300 copper to 400 in the first move late last year and as shown below to 450 now, I was on top of the Bullish moves coming in the metals. And behind that call was the Macro call that the Dollar is starting a long term bear market. From 104 to 91 now that is a big move for currency markets. Even though of late I am looking at the dollar completing the first meaningful decline for a possible near term rally. The dollar bear market is a multi year trend, and so I am going to be tracking it for the next major wave down. So while corrections will and can occur they must be understood in the larger context of what a falling dollar and rising commodity prices mean for market and metal stocks. 

Copper MCX

No body gets the commodity rally just like nobody got the dollar bear market so I take credit for both forecasts. Global copper prices hit a 52 week high in wave 3. So MCX prices also should be o that path. A minor wave iv correction may get followed by wave v up. larger degree 3=1 is at 475 so we have a long way to go.

Euro

If the Euro holds 1.0568 support then prepare for a springboard lift off for the Euro upwards from here. The reverse can also be true if the support breaks. A move above 1.0689 would further confirm this scenario. This is a neat compression that has gone on for months between bulls and bears.

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