Categories: Technical analysis

Copper Wave Analysis – 10 June, 2020

• Copper broke resistance level 262.00

• Likely to rise to 275.00

Copper recently broke above the pivotal resistance level 262.00 (former resistance from February and the start of March – which also served as powerful support in November and December of 2019).

The breakout of the resistance level 262.00 coincided with the breakout of the daily up channel from April – which should accelerate the active waves C and (2).

Copper is likely to rise further toward the next resistance level 275.00 (target price for the completion of wave (2)).

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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The FxPro Tech Analysis Team
Tags: CUUUSD

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