Copper recently reversed up from the support area lying between the support level 262,50 (which has been reversing the price from October), lower daily Bollinger Band and the 50% Fibonacci correction of the previous sharp upward impulse C from October.
The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Bullish Engulfing. .
Copper is expected to rise further toward the next resistance level 270,00 (top of the previous wave 2).
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