Technical analysis

Copper Wave Analysis 2 March, 2021

Copper Wave Analysis 2 March, 2021

• Copper reversed from support level 410.00

• Likely to reach resistance level 436.20

Copper recently reversed up from the support level 410.00 (which has been reversing the price end the start of February).

The support area near the support level 410.00 was strengthened by the Fibonacci cluster made out of the Fibonacci corrections 38.2% and 50% of the previous different length upward impulses from the start of February .

Copper is likely to rise further toward the next resistance level 436.20 (which stopped the previous impulse wave (i)).

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