Market Snapshots

Copper Wave Analysis – 10 December, 2019

Copper Wave Analysis – 10 December, 2019
  • Copper broke resistance zone
  • Likely to rise to 280,00

Copper recently broke the resistance zone lying between the resistance level 272.50 (top of the previous impulse wave A) and the 50% Fibonacci correction of the previous downward impulse from April.

The breakout of this resistance zone should accelerate the active impulse wave C of the medium-term ABC correction (2).

Copper is expected to rise further toward the next resistance level 280,00 (multi-month high from July and the target for the completion of wave C).

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