CPER Metals Research — October 11, 2026
CPER $40.31 — bullish above $41.52, bearish below $38.06
CPER $40.31 — bullish above $41.52, bearish below $38.06
Line in the sand
CPER last traded at $40.31 (+2.16% on the day; prior close $39.46, session range $40.195–$40.385). It is pressed against the top of a multi-month range. The ceiling is the Sep 22 D-wave high of $41.52, with the May 13 B-wave high of $40.78 just beneath it. The floor is the Sep 14 low of $38.06. A close above $41.52 is a new high for the whole 252-day window.
How the analysis was built
Copper has been the steadiest chart on the list. The A-wave low is $30.01 on Oct 10, 2025. From there CPER climbed to a B-wave high of $40.78 on May 13, 2026, then pulled back to a C-wave low of $36.12 on Jun 24. That C low is the cycle's annual-containment level.
Since then the recovery has stepped up in a series of higher lows: $36.12 in June, $38.06 on Sep 14, with the D-wave high of $41.52 on Sep 22 clearing the $40.78 B high. Unlike the precious metals, CPER did not make a lower high this summer; it broke out. The Jan 29 spike to $40.44 reversed the same day (close $38.71), so that high was rejected, but the Sep 22 high was not.
Measured moves add the A-to-B range of $10.77 ($40.78 − $30.01) to the C low of $36.12. That gives $42.77 (61.8%) and $46.89 (100%). The first target is only about 3% above the Sep 22 high. Price needs to hold the $39–$40 area on pullbacks to keep that path open. In copper's long-horizon channel, the Sep 22 high is the upper edge of the current containment.
Key Level Map
| Level | Type | Role |
|---|---|---|
| $46.89 | Wave projection C+1.0×(B–A) | Full measured-move target |
| $42.77 | Wave projection C+61.8%×(B–A) | First measured-move target |
| $41.52 | Multi-week contain (★★★★) | Sep 22 D-wave high, bullish trigger |
| $40.78 | Multi-week contain (★★★★) | May 13 B-wave high |
| $38.06 | Weekly containment (★★★) | Sep 14 low, bearish trigger |
| $36.12 | Annual containment (★★★★★) | Jun 24 C-wave low |
| $30.01 | Annual containment (★★★★★) | Oct 10, 2025 A-wave low |
Not financial advice. Analysis only.
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