Copper miners break lower rail: throw under in progress.

This post is a follow on to this thread.  The updates chart shows that no bounce occurred at the lower rail so it is now likely just going to finish off C of 5 in a capitulation bottom.

One possible wave count says it is already there.  Below is a zoom in of just the wave down that began in the $11.20 range.  This count is if I use 5 waves instead of a-b-c as expected by an internal triangle structure.  In practice is is often (but not always) possible to count something like this either way. 

If red 3 is really A of 5 and red 4 is really B of 5 then red 1 could just be 1 of C of 5.  In that case it will likely eventually pop back up to ~$7.80 and then reverse back down hard into 3 of C.  If that were to transpire it would imply a low for COPX of about $5.