Categories: Technical analysis

Copper Wave Analysis 26 November, 2020

• Copper rising inside impulse waves (iii), 3 and (3)

• Likely to reach 350,00

Copper continues to rise inside the sharp upward impulse waves (iii), 3 and (3) – which previously broke above the key resistance 320,00 (which stopped the previous impulse waves (1) and 1).

The breakout of the resistance 320,00 is aligned with the clear multi month uptrend that can be seen on the daily Copper charts.

Copper is likely to rise further toward the next resistance level 350,00 (target for the completion of wave (3) intersecting with the daily up channel from April).

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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Tags: Copper

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