Market Snapshots

Copper Wave Analysis – 19 August, 2020

Copper Wave Analysis – 19 August, 2020

• Copper broke round level 300.00

• Likely to rise to 310.00

Copper today broke above the round resistance level 300.00 (which stopped the previous sharp upward impulse wave 3 in July).

The breakout of the resistance level 300.00 accelerated the active short-term impulse wave 5 from the start of August.

Copper is likely to rise in the active impulse waves (i) and 5 toward the next resistance level 310.00. Strong support now remains at the support level 300.00.

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