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Elliott Wave Financial Price Forecasting

Commodities Mid-Year Video Outlook 2026 Part II / III

by WaveTrack International| July 31, 2026 | No Comments

Commodities Mid-Year Video Update 2026, Secondary Energy Shock – Copper Collapse Ahead – US$ Dollar Highs – Precious Metal Lows

The Hidden Commodity Rotation Most Investors Haven’t Seen Yet

Why the next major opportunities in Energy, Copper and Precious Metals may not be where conventional analysis is looking.

Every commodity bull market creates a familiar story.

This year, that story revolves around artificial intelligence, electrification, geopolitical tensions and inflation. Copper is expected to remain in structural shortage. Oil is believed to be driven primarily by events in the Middle East. Gold continues to attract attention as the ultimate safe-haven asset.

These narratives may sound convincing—but markets often change direction long before the headlines do.

History repeatedly shows that the biggest investment opportunities emerge when investors stop looking at individual markets in isolation and begin understanding how they interact with one another.

That is the foundation of Elliott Wave analysis.

The Relationship That Matters

One of the most revealing indicators Peter Goodburn follows is not a commodity at all—it’s the Copper/Oil Ratio.

Few investors pay attention to it, yet it has repeatedly highlighted important shifts in leadership within the commodity complex.

Today, the ratio is sending a fascinating message.

Rather than confirming broad strength across commodities, it suggests a period of growing divergence. Energy appears capable of extending its advance, while Copper may be approaching a much more challenging phase than current consensus expects.

This distinction matters because commodities rarely move together. Leadership rotates. Capital rotates. Sentiment rotates.

Understanding those rotations often provides a significant advantage over simply reacting to today’s news.

Looking Beyond the AI Narrative

Copper has become one of the market’s favourite long-term investment themes.

Artificial intelligence, data centres, electric vehicles and infrastructure spending have fuelled widespread expectations of ever-rising demand.

Yet successful investing has never been about following the most popular story.

It has been about recognising when expectations have become too one-sided.

Peter’s latest Elliott Wave analysis suggests that Copper may have already completed a major advance that began after the financial crisis. At the same time, global inventories remain historically elevated—a combination that contrasts sharply with the overwhelmingly bullish sentiment seen across much of the market.

That doesn’t change Copper’s long-term importance.

It simply suggests that timing matters.

Markets often require significant corrections before the next secular advance begins.

Why Energy May Still Surprise

While many investors have become comfortable expecting oil prices to remain within a relatively narrow range, sentiment itself can become a valuable contrarian indicator.

Periods of widespread pessimism have frequently appeared close to important turning points.

The Elliott Wave structure, supported by the behaviour of the Copper/Oil Ratio, continues to point toward the possibility of another meaningful advance in Crude and Brent Oil before a much larger correction develops.

In other words, today’s consensus may be focusing on the wrong phase of the cycle.

Precious Metals: Preparing for the Next Opportunity

Gold, Silver, Platinum and Palladium have experienced meaningful corrections from their highs earlier this year.

At the same time, several major financial institutions have begun reducing their near-term price forecasts.

Contrarian investors know this pattern well.

The strongest opportunities often emerge when optimism fades—not when enthusiasm is at its peak.

Peter’s analysis suggests that precious metals may be approaching important cyclical lows during the months ahead, particularly as the US Dollar completes its current advance. If that relationship unfolds as expected, the coming correction could become the foundation for the next significant move higher in both precious metals and mining shares.

A Market of Increasing Divergence

Perhaps the most important conclusion from this year’s research is that commodities should no longer be viewed as one single asset class.

The next phase appears increasingly selective.

Energy may continue outperforming.

Industrial metals may weaken.

Precious metals could be preparing for an important recovery.

Strategic metals such as Iron Ore, Uranium and Rare Earths continue following their own distinct Elliott Wave structures.

This environment rewards analysis based on relationships rather than headlines.

It also places greater importance on understanding where each market sits within its larger cycle.

Seeing the Bigger Picture

Financial markets rarely announce their next major turning point in advance.

Instead, they leave clues.

Sometimes those clues appear in sentiment.

Sometimes in price structure.

And sometimes in the relationship between two markets that few investors are watching.

The goal of Elliott Wave analysis is not to predict every short-term fluctuation. It is to identify the larger patterns before they become widely recognised and to help investors prepare rather than react.

If the months ahead unfold as anticipated, the biggest opportunities may not come from following the consensus—but from recognising where leadership is quietly beginning to change.

The Mid-Year 2026 Commodities Video Update provides that broader perspective, offering a comprehensive roadmap across the global commodity complex for the remainder of 2026 and beyond.

Sincerely,

Peter Goodburn & EW-team

Commodities Mid-Year Video Outlook 2026 Part II/III

Contents: 112 charts
Time: 2 hours 17 mins.

• Copper vs. Crude Oil Ratio
• CRB-Cash vs. SP500
• CRB Commodity Index
• Copper Track Record
• Food and Agriculture Index
• DB PowerShares Agriculture Fund
• Baltic Dry Index
• Copper
• Aluminium
• Lead
• Zinc
• XME Metals & Mining Index
• COPX Copper Miners ETF
• DBB Base Metal Fund
• BHP-Billiton
• Anglo American
• Antofagasta
• Freeport McMoran
• Rio Tinto
• Glencore
• Vale
• Iron Ore
• Fortescue Metals
• Companhia Siderurgica
• Gerdau Steel
• Uranium
• Rare Earths
• Gold
• Gold-Silver Ratio
• Silver
• Gold/Platinum Ratio
• Platinum
• Palladium
• GDX Gold Miners Index
• XAU Gold/Silver Index
• Agnico Eagle Mines
• AngloGold Ashanti
• Amer Barrick Gold
• Newmont Mining
• Crude Oil
• Brent Oil
• Natural Gas
• TTF Natural Gas
• XLE Energy SPDR
• XOP Oil and Gas Index

SELECT YOUR PACKAGE

Single Video – *$99.00 – PART II Commodities Mid-Year Video Outlook 2026 (July ’26)

Order the Triple Package via PayPal. We will send you the video via email! Part III will be automatically sent to you as soon as they are published! Triple Package offer – *$211.00 (discount)! – PART I – PART II – PART III (June – August ’26)

  • Each video runs for at least 1 hour 50 minutes and it’s packed with SPECIFIC Elliott Wave price-forecasts. The Commodities Mid-Year Video Update 2026 is already 2 hours 17 mins. long!.
  • BONUS! The Commodities Mid-Year Video Update 2026 contains 112 charts already. illustrated in the VIDEOS will be created into a .pdf document/report and sent to you so that you can always keep these to refer to!

    • PART III will be available in a few weeks’ time – we’re working on it!

    ORDER NOW

    Single Video – *$99.00 – PART II Commodities Mid-Year Video Outlook 2026 (July ’26)

    We’re sure you’ll reap the benefits – don’t forget to contact us with any Elliott Wave questions – Peter is always interested to hear your views, queries, and comments.

    Visit us @ www.wavetrack.com

    Category: Agnico Eagle Mines, AngloGold Ashanti, Antofagasta, Base Metals, Campanhia Siderugica, Commodities Video Outlook, Copper, CRB, Crude oil, crude oil price chart, Elliott Wave, Elliott Wave Principle, Fibonacci Trading, Fortescu Metals, Freeport McMoran, GDX, Gerdau Steel, Gold, Gold Mining, Mining, Newmont Mining, Palladium, Platinum, Precious Metals, Silver, XAU Gold/Silver Index

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    WaveTrack International is a financial price forecasting company dedicated to the Elliott Wave principle and work of the R.N. Elliott. Clients include Investment Banks, Pension Funds, Total/Absolute-Return/Hedge Funds, Sovereign Wealth Funds, Corporate and Market-Making/Trading institutions and informed individuals -- & just about anyone who is affected by directional price change.

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