Copper Wave Analysis – 17 August, 2020

• Copper broke daily down channel from

• Likely to rise to 299.00

Copper recently reversed up from the support level 280.00 (low of the (A)-wave of the previous intermediate corrective wave (2) from July).

The upward reversal from the support level 280.00 started the active medium-term impulse wave (3).

Having just broken the daily down channel from July – Copper is likely to rise further toward the next resistance level 299.00 (top of the previous sharp impulse wave (1)).