Copper Wave Analysis – 17 April, 2020
April 17, 2020 @ 17:47 +03:00
- Copper broke resistance zone
- Likely to rise to 240.00
Copper recently broke the resistance area located between the pivotal resistance level 230.00 (which stopped the previous impulse wave (i)) and the 50% Fibonacci correction of the downward impulse from the start of March.
The breakout of this resistance zone is set to accelerate the minor (c)-wave of the ABC correction 4 from last month.
Copper is expected to rise further toward the next resistance level 240.00 (target price for the completion of the active ABC correction 4).