Copper Wave Analysis 21 October, 2020

• Copper broke key resistance level 312.00

• Likely to rise to 330.00

Copper recently broke above the key resistance level 312.00 (former monthly top from the end of August).

The breakout of the resistance level 312.00 accelerated the active medium-term upward impulse sequence (3) from the start of October.

Given the strength of the active daily uptrend and the closeness of the strong support at the aforementioned price level 312.00 – Copper  is likely to rise further toward the next resistance level 330.00 (target for the completion of the active impulse wave (3)).