Categories: Technical analysis

Copper Wave Analysis 10 February, 2021

• Copper broke key resistance level 370.00

• Likely to rise to resistance level 390.00

Copper recently broke through the key resistance level 370.00 (which stopped the earlier sharp upward impulse wave 1 at the start of January).

The breakout of the resistance level 370.00 accelerated both of the active impulse waves (iii) and 3 – which belong to wave (5) from October.

Copper is likely to rise further toward the next resistance level 390.00 (target price for the completion of the active impulse wave (iii)).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: Copper

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