CPER Metals Research — June 8, 2026
CPER $38.08 — rolling from double-top ATH $40.78, watching C-wave support $35.18
Cycle Structure — ABCD
CPER's cycle traces from an August 1, 2025 A-wave low at $27.08 to a January 29, 2026 B-wave peak at $40.44. After a C-wave correction to $35.18 on February 5, 2026, the D-wave recovery extended further than the B-wave — reaching $40.78 on May 13, 2026. This marginal new high ($0.34 above the January peak) formed a textbook exhaustion double-top.
The full A→B range spans $13.36. The 50% retrace sits at $33.76 and the 61.8% retrace at $32.18 — these are the key cycle targets if the double-top resolves lower.
June 5 saw CPER close at $38.08, down from $39.73 on June 4 — a meaningful single-day decline opening a $1.65 gap. The ticker is now trading below both the January 29 B-wave peak ($40.44) and the April 17 interim high ($37.50), signaling distribution from the double-top.
Context
The C-wave low at $35.18 (February 5) was contained and produced the D-wave rally. The D-wave exhaustion double-top at $40.78 — which marginally exceeded the original B-wave — is a classic sign of a cycle completing. The A-wave crash low at $27.08 is the ultimate downside target on a full cycle failure.
The April 17 interim D-wave high at $37.50 is now proximate support. Below that, the C-wave floor at $35.18 is the next key level. A weekly close below $35.18 would confirm a new leg lower targeting $33.76 (50% retrace) and $32.18 (61.8%).
Key Level Map
| Price | Stars | Label |
|---|---|---|
| $40.78 | ★★★★★★ | May 13 D-wave high — double-top ATH |
| $40.44 | ★★★★★ | Jan 29 B-wave spike peak |
| $37.50 | ★★★★ | Apr 17 D-wave initial high |
| $35.18 | ★★★★★ | C-wave low Feb 5 |
| $33.76 | ★★★★ | 50% retrace A→B |
| $32.18 | ★★★★ | 61.8% retrace A→B |
| $27.08 | ★★★★★★ | A-wave crash low Jul 31 |
Levels to Watch
Resistance: $39.73 (Jun 4 close), $40.44 (B-wave peak), $40.78 (D-wave double-top).
Support: $37.50 (Apr 17 high), $35.18 (C-wave floor). A weekly close below $35.18 opens $33.76 → $32.18.
Bull re-entry: Weekly close above $40.78 would extend the cycle's upside.
Charts
