Copper Wave Analysis – 11 October, 2021

• Copper broke resistance zone

• Likely to rise to resistance level 450.00

Copper recently broke the resistance zone located between the key resistance level 430.00 (which has been reversing the price from last month) and the 50% Fibonacci correction of the downward wave (C) from July to August.

The breakout of this resistance zone accelerated the active impulse waves 3 and (3).

Given the daily uptrend, Copper can be expected to rise further toward the next resistance level 450.00 (top of impulse wave (1) from September).