Technical analysis

Copper (CUU) Wave Analysis – June 6, 2018

• Copper broke resistance zone • Further gains are likely

Copper recently broke the resistance zone located between the key resistance level 3.180 (which has been steadily reversing the price from the start of March) and the 61.8% Fibonacci correction of the previous downward correction from the end of December.

The breakout of this resistance strengthened the bullish pressure on Copper – accelerating the active medium-term impulse wave (3) from the end of May.

With the accelerating daily Momentum, Copper is expected to re-test the next prominent resistance level 3.2660 (which reversed the price numerous times from January).

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