Copper Wave Analysis 5 April, 2021
April 05, 2021 @ 18:00 +03:00
• Copper reversed from support level 393.60
• Likely to rise to resistance level 416.30
Copper recently reversed up from the pivotal support level 393.60, which stopped the previous waves 4 and 2
The support zone near the support level 393.60 was strengthened by the intersecting lower daily Bollinger Band, 50-day moving average and the 50% Fibonacci correction of the impulse wave 5 from February.
Copper is likely to rise further toward the next resistance level 416.30 (which stopped the previous waves 1 and (b) last month).