Copper Wave Analysis – 12 March, 2019

• Copper reversed from support level 287.00
• Further gains are likely

Copper recently reversed up from the support level 287.00 (former multi-month resistance level from July) – strengthened by the 38.2% Fibonacci correction of the previous upward impulse 5.

The upward reversal from the support level 287.00 started the active medium-term impulse wave (3).

Copper is expected to rise further and re-test the next round resistance level 300.00 (top of the previous impulse wave (1) from February).