Copper Wave Analysis – 8 June, 2020

• Copper broke key resistance level 250.00

• Likely to rise to 262.00

Copper recently broke above the key resistance level 250.00 (which revered the price twice in the middle of March, as can be seen below).

The breakout of the resistance level 250.00 is aligned with the active short-term impulse wave C – which belongs to wave (2) from the middle of March.

Copper is likely to rise further toward the next strong resistance level 262.00 (which stopped the previous waves (a), 4 and (ii)).