An Elliot Perspective on RBA Commodity Prices.

Wave 4 is about 50% point of the current price and the star of the wave at about 35.
Wave structure of 2 & 4 has also satisfy the Elliot rule of alternation.
If one is simple the other complex.
in this case wave 2 is complex and wave 4 deep but simple correction.
Wave 4 has also cut Wave 3 by Fibonacci ratio of 50%.

Looks like we may see multi months correction on commodity prices !!