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Copper Wave Analysis – 31 January, 2019

  • Copper rising inside impulse wave (3)
  • Further gains are likely

Copper recently broke above below the resistance level 273.00(which has been reversing the price from the end of December) – which accelerated the active impulse wave (3).

Impulse wave (3) belongs to the long-term upward impulse sequence Ⓒ – which started previously from the strong support level 225.00.

Copper is expected to rise further and re-test the next resistance level 283.00 (multi-month resistance from September and the target price from the completion of the active impulse wave (3)).

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Source: FxPro


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