- Copper reversed from support level 287.00
- Further gains are likely
Copper recently reversed up from the support level 287.00 (former multi-month resistance level from July) – strengthened by the 38.2% Fibonacci correction of the previous upward impulse 5.
The upward reversal from the support level 287.00 started the active medium-term impulse wave (3).
Copper is expected to rise further and re-test the next round resistance level 300.00 (top of the previous impulse wave (1) from February).