Copper Analysis 06 November, 2020

• Copper reversed from support level 302.30

• Likely to rise to 321.50

Copper continues to rise inside the medium-term impulse wave (3) , which started earlier from the support level 302.30 standing close to the 50% Fibonacci correction of the previous wave (1).

The upward reversal from the support level 302.30 created the tall daily Hammer – which highlights the strength of the support level 302.30.

Copper is likely to rise further toward the next resistance level 321.50 (top of the previous medium-term impulse wave (1)).