Technical analysis

Copper Wave Analysis – 6 July, 2020

Copper Wave Analysis – 6 July, 2020

• Copper broke resistance level 276.80

• Likely to rise to 288.50

Copper continues to rise inside the short-term impulse wave (iii) which started earlier from the pivotal support 269.90 (former resistance from the start of June).

The price today broke above the earlier minor resistance level 276.80 (top of wave (i)) – a bullish signal for Copper. Given the clear multi-month uptrend the Copper is currently moving in  – the price is likely to rise further toward the next resistance level 288.50 (former monthly high from January and the target for the completion of the active wave C).

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