CPER Metals Research — October 4, 2026
CPER $39.52 — bullish above $39.80, bearish below $39.23
CPER $39.52 — bullish above $39.80, bearish below $39.23
Line in the sand
CPER closed Friday at $39.52 (session range $39.23–$39.795). Bulls need the Oct 2 high ($39.795) cleared; a break of the Oct 2 low ($39.23) puts the $38.06 Sep 14 low in play. The big overhead level is the $41.52 Sep 22 high, followed by the $40.46 May 12 B-wave high just beneath it.
How the analysis was built
Copper is the cleanest trend in this metals group. The fetched window spans Oct 2, 2025 to Oct 2, 2026. After a $30.013 low on Oct 10, 2025, CPER spiked to $40.44 on Jan 29, 2026 and fully reversed (low $35.38 on Jan 30). The next leg down bottomed at the A-wave low of $32.305 on Mar 20, 2026.
From A, CPER rallied to the B-wave high of $40.46 on May 12, pulled back to the C-wave low of $36.12 on Jun 24, and then climbed in a staircase through $40.95 (Aug 5) and $41.29 (Sep 9) to a new window high of $41.52 on Sep 22. That is a series of higher lows ($36.12, $37.52 on Jul 17, $38.06 on Sep 14) inside an ascending channel drawn parallel to the A→C line, with the top parallel passing through the May 12 high. Spot sits close to the lower channel boundary.
Measured moves from C: C+61.8%(B–A) = $41.16 and C+(B–A) = $44.28. The Sep 22 high of $41.52 has already tagged and slightly exceeded the 61.8% target, so the full-extension $44.28 is the remaining target if $41.52 is cleared.
Key Level Map
| Level | Type | Role |
|---|---|---|
| $44.28 | Wave projection C+(B–A) | Full measured-move target |
| $41.52 | Multi-week contain (★★★★) | Sep 22 window high |
| $41.16 | Wave projection C+61.8%(B–A) | First target — tagged Sep 22 |
| $40.46 | Annual containment (★★★★★) | B-wave high (May 12) |
| $39.80 | Session containment (★) | Oct 2 high ($39.795) — bull trigger |
| $39.23 | Intra-day containment (★★) | Oct 2 low — bear trigger |
| $38.06 | Weekly containment (★★★) | Sep 14 low |
| $36.12 | Annual containment (★★★★★) | C-wave low (Jun 24) |
| $32.31 | Annual containment (★★★★★) | A-wave low (Mar 20, $32.305) |
| $30.01 | Annual containment (★★★★★) | Oct 10, 2025 cycle low ($30.013) |
Not financial advice. Analysis only.
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