Technical analysis

Copper Wave Analysis 10 December, 2020

Copper Wave Analysis 10 December, 2020

• Copper broke resistance area

• Likely to rise to 370.00

Copper previously broke the resistance area lying at the intersection of the resistance level 350.00 (which previously formed narrow congestion zone) and the resistance trendline of the daily up channel from April.

The breakout of this resistance area accelerated the active multi-impulse upward price move – made out of the impulse waves iii, (iii), 3 and (3).

Copper is expected to rise further toward the next resistance level 370.00 (likely price for the completion of the active impulse wave (3)).    

                                                                                                           

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