SCCO favors sideways to lower before rally resumes

Elliott Wave Forecast Team ElliottWave-Forecast.com

Southern Copper Corporation (SCCO) engages in mining, exploration, smelting & refining of Copper & other minerals in Peru, Mexico, Argentina, Ecuador & Chile. The company is based in Phoenix, Arizona, US, comes under Basic Materials Sector & trades as “SCCO” ticker at NYSE.

SCCO made all time high at $83.15 as wave I impulse started from March-2020 low of (II). Later, it finished II as flat correction at $42.42 low. Currently, it favors pullback in ((2)), while placed ((1)) at $82.05 high. It expects ((2)) to unfold in 3, 7 or 11 swings & remain supported at extreme area to resume higher in ((3)) of III.

SCCO – Elliott Wave latest weekly view

It placed (I) at $58.09 high & (II) at $23.43 low in March-2020. It resumes higher in (III) & finished I at $83.15 high. It placed ((A)) of II at $54.92 low in 3 swings pullback, while ((B)) at $79.31 high. It finished ((C)) as 5 swings lower at $42.42 low to finish wave II flat correction.

SCCO – Elliott Wave latest daily view

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Elliott Wave Forecast Team

ElliottWave-Forecast.com

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