- Copper reversed from support area
- Further gains are likely
Copper recently reversed up from the support area lying between the key support level 290.00 (former powerful resistance level from the end of September) and the lower daily Bollinger Band.
The upward reversal from this support area started the active short-term impulse wave 3 of the impulse (3) –which started earlier from the same support area.
Copper is expected to rise further in the impulse waves 3 and (3) and re-test the next resistance level 300.00 (top of the previous impulse (1)).