Market Snapshots

Copper Wave Analysis – 13 April, 2020

Copper Wave Analysis – 13 April, 2020
  • Copper broke resistance area
  • Likely to rise to 240.00

Copper recently broke through the resistance area lying between the key resistance level 225.00 and the 38.2% Fibonacci retracement of the previous downward impulse (i) from the start of March.

The breakout of this resistance area accelerated the active short-term impulse wave (i) – which belongs to the sharp wave B from last month.

Copper is likely to rise further toward the next resistance level 240.00 (target price for the completion of the active impulse wave (i)).

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