Technical analysis

Copper Wave Analysis 23 April, 2021

• Copper rising inside impulse wave C

• Likely to rise to resistance level 436.20

Copper continues to rise steadily after the price broke the key resistance level 416.30 (former top of waves (a) and B from March).

The breakout of the resistance level 416.30 accelerated the active impulse wave C – which belongs to wave (B) from last month.

Copper is likely to rise further toward the next resistance level 436.20 (multi-month high from February and the target for the completion of the active impulse wave C) – from where the correction is likely.

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