As of May 22, 2026, COPX (Global X Copper Miners ETF) is in a volatility expansion state on the monthly chart, with a confidence level of 72%. Key support is at $78.0 and key resistance at $96.0. Monthly breakout run from the multi-year base into a sharp impulsive leg; recent peak near ~$96 followed by a swift pullback and stabilization around ~$83 while staying well above rising EMA50/EMA100; RSI elevated (~68) with expanded volume.
Consolidation/pullback resolves higher: price holds the $78-$80 area (prior breakout retest / fib-like pullback zone), then grinds up and eventually retests $96; if $96 breaks on a monthly close, continuation targets open toward the low $100s.
Deeper mean-reversion: failure to hold $78 leads to a larger corrective leg (Elliott: Wave 4 / ABC) toward the prior breakout shelf and rising averages; buyers likely re-engage near the $70s then possibly the low $60s.
Hold above $78 on a monthly closing basis while making a HH back above $96
Monthly close below $72 (breaks the most recent swing low zone and implies deeper mean reversion)
Scale in at the first breakout-retest support ($76-$80), add on a confirmed breakdown retest into the next demand shelf ($68-$72), and deploy heavily near the prior range ceiling/mean-reversion confluence ($60-$64) closer to the rising EMA20/SMA50 region.
Trim into prior ATH/extension ($96-$108), trim more if price runs well beyond the breakout leg into fib-extension territory ($108-$125), and fully exit if a euphoric overshoot develops far above trend/MA structure ($125-$145) consistent with late-wave extension risk.
As of May 22, 2026, COPX (Global X Copper Miners ETF) is in a volatility expansion state on the monthly chart with 72% confidence. Monthly breakout run from the multi-year base into a sharp impulsive leg; recent peak near ~$96 followed by a swift pullback and stabilization around ~$83 while staying well above rising EMA50/EMA100; RSI elevated (~68) with expanded volume.
On the monthly timeframe, COPX has key support at $78.0 and key resistance at $96.0. The most likely scenario (bullish) targets $96.0 and $108, with a revert level at $80.0.
COPX (Global X Copper Miners ETF) is currently classified as volatility expansion on the monthly chart, with 72% confidence. Confirmation requires: Hold above $78 on a monthly closing basis while making a HH back above $96 This would be invalidated by: Monthly close below $72 (breaks the most recent swing low zone and implies deeper mean reversion)
The most likely scenario (bullish) targets $96.0 and $108, with a revert level at $80.0. The alternative scenario (bearish) targets $72.0 and $63.0.
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