• Copper broke resistance zone
• Further gains are likely
Copper continues to rise after the earlier breakout of the resistance zone lying between the resistance level 272.00, 50-day moving average and the 50% Fibonacci correction of the previous sharp downward impulse 5 from July.
The breakout of this resistance zone accelerated the active short-term impulse wave 3, which belongs to the medium-term impulse wave (3) from the start of September.
Copper is expected to rise further and retest the next resistance level 285.00 (top of the previous minor correction 4 from the end of July).